Total Health Cover.ie and Cregan Kelly O'Brien have teamed up to offer you a Free No Obligation Life Assurance Quote
Life insurance/Assurance and Family Protection
Did you know that:
33% of parents have no life cover!
40% of adults have no life cover!
Average cover for Adults with life assurance is €103,000
1 in 2 customers say they want advice on life assurance and want guidance from a Financial Advisor or Broker
We all want to provide for our family, but what would happen to your loved ones in the event of your death? If they could not rely on your income, how would they manage financially?
Family protection is another way of describing life insurance, pays out a lump sum or a regular income on death and can offer a financial lifeline to grieving relatives. A policy could cover day-to-day expenses or even a specific commitment, such as school fees.
Term insurance is the simplest and often the cheapest because it pays out only if you die within the defined term. For example, you might take out a 25-year plan so the policy would pay out if you were to die in the next 25 years. Your family would get nothing if you were to die after the end of the term. You can buy level term insurance, where the pay-out remains the same whether you die in year one or year 25. Or you can arrange decreasing term insurance so the pay-out gets gradually smaller. For example, a policy might pay out £100,000 in year one but only £5,000 in year 25. Decreasing term insurance is often linked to a repayment mortgage because the amount you owe the lender reduces over time.
Another option is family income benefit. Here, instead of a lump sum pay-out, the insurer commits to paying a set monthly income from the time of the claim to the end of the agreed policy term.
A regular income can be easier to manage as it can simply replace your salary. Premiums can also be cheaper as the longer you live, the less the insurer has to pay out.
The premiums for both level and decreasing term insurance and for family income benefit are fixed throughout the policy term. However, decreasing term insurance and family income benefit tend to be cheaper than level term insurance.
Whole of life cover
Whole of life assurance pays out whenever you die. It is usually linked to an investment such as a pension or an endowment policy and is often the most expensive type of cover because a claim is inevitable (which is why it’s called assurance; insurance is for something that might happen). The premiums can vary if the investment performance is poor.
The amount of cover you need depends largely on your personal circumstances and your budget. If you have several young children, for example, you may need more cover than someone with one older child.
The size of your mortgage can also help to determine the size of the sum insured.
Check, too, whether you have any existing cover. For example, your employer might offer death-in-service benefit, which could pay a lump sum of around four times your annual salary if you were to die while still employed by the firm.
You should include any potential death-in-service pay-out when determining how much insurance you need to buy.
Insurers take into account a number of risk factors when setting the premiums for life insurance. Older people are obviously more risky than younger people as they are more likely to die sooner. For the same reason, someone in poor health can expect to pay more for family life insurance. Dangerous occupations and pastimes can also push up premiums.
Financial Tip: Life assurance costs have reduced over last number of years. We may be able to save you money on your existing life cover or mortgage protection policy so contact us if you have a life policy, especially one whereby the premium is due to increase shortly e.g. a Whole of Life policy.
Factors Affecting Life Assurance/Life Insurance/Life Cover
- Level of cover you require
- Your Age
- Smoker Status
- Health Issues
- Length or term of cover
I found the advice from Cregan Kelly O' Brien first class. They explained in great detail the best type of policy to suit our needs. They guaranteed that they would provide us with the best cover at the best price. I would highly recommend them to anyone and I have already passed on their details to all of my family and friends..
Colm Kelly - Life Assurance
Request a Call Back
Innovative Pension Advice
Planning for your desired lifestyle in retirement is a significant challenge facingpension investment yourself business owners and professionals today. You want to maximise the tax advantages and also your retirement benefits, all in a risk controlled manner. At Cregan Kelly O’Brien Financial Planning, this is what we do. Whether you want to take control of your pension investment yourself , buy property with your pension fund, or invest in a more traditional fund; Cregan Kelly O'Brien has the expertees, experience and market knowledge. More About Pensions
How Can We Help You?
At Cregan Kelly O'Brien, we understand that you face a wide range of financial challenges - running your business effectively, growing your wealth, protecting your family and managing your insurance needs. Our role is to help you make sense of these.
Cregan Kelly O'Brien provides expert financial, tax and insurance advice and solutions to business owners and private individuals in the following areas: Financial Planning, Future Cash Flow Planning, Wealth Management and Retirement Planning, Wealth transfer, Risk identification, Risk Management, Protection & Insurance, Cost Effective insurance solutions.
Cregan Kelly O'Brien provides insurance broking services, and pension schemes for businesses, business owners, and professionals.
Cregan Accountants are a leading firm of Certified Public Accountants and Business Advisors, based in Fingal, Co. Dublin. In addition to the traditional services that you expect from an accountant, we also provide a range of financial and management services specifically designed to make your business more successful, more valuable and more enjoyable to run. Unlike other accountants in Dublin, we offer fixed fees so you can keep track of costs, so get in touch today.
By combining expertise in financial planning, insurance, accounting, and taxation, we can address important financial and insurance challenges of our clients.
- Financial Planning
- Future Cash Flow Planning
- Tax Planning
- Wealth Management & Retirement Planning
- Wealth Transfer
- Business Insurance Risk Management
- Family Protection & Personal Insurances
- Find Best Market Options Available
Commercial Insurance Broking
Planning for your desired lifestyle in retirement is a significant challenge facing business owners and professionals today. You want to maximise the tax advantages and also your retirement benefits, all in a risk controlled manner. At Cregan Kelly O’Brien Financial Planning, this is what we do. More About Pensions