We buy insurance for our homes, cars and even our holidays and phones, so surely it should make sense to protect those you love in the event that something happens and you can’t provide for them?
Having the right life insurance policies in place is important and identifying what cover will meet your needs is the first consideration. Depending on the primary need the policy is designed to meet, they can be divided into different categories including Term Life insurance, Serious Illness cover, Mortgage Protection Insurance.
Term Life Insurance
A Term Life Insurance or Term Protection plan brings you life insurance over an agreed term. If you die or become ill during this term, your family will be provided for financially. It may make sense to avail of this cover for your key working years when you have dependents who rely on your income
Serious Illness Cover
People are living longer than ever before. As a result, the chance of being diagnosed with a serious illness at some point in your life is greater. Many illnesses that were once incurable can now be treated successfully. Serious illness cover provides a lump sum tax-free payment in the event that you are diagnosed with one of these illnesses.
Mortgage Protection Insurance
Anyone taking out a mortgage is obliged to have mortgage protection in place. Mortgage Protection insurance is a dedicated type of life insurance. It helps secure the ownership of your home by paying off the outstanding mortgage if you die within the specified term. Many people take up a policy with their mortgage provider. But it’s a good idea to shop around for the best premium.
We as a broker have access to a large array of insurance products from all of the leading life insurance companies operating in the Irish market. If you are considering purchasing a life insurance product or have a life insurance product that you would like reviewed please contact our dedicated team today.