Life Cover Insurance
If you have someone who depends on you, life assurance can help fill the financial gap left in the event you are no longer there to support them. It is difficult to imagine a time when you won’t be there to help provide for your family.
However, by being prepared in advance you’ll have the peace of mind knowing you’re protecting your family’s financial future. That’s why we developed several life assurance options to suit your needs and budget. IPS Financial Advice has partnership agreements with major insurance companies. For instance Aviva, Irish Life, Royal London, New Ireland and Zurich to provide you with choices on any of your protection needs.
How it works?
At IPS Financial we will help you assess your need for life insurance cover. This will depend on your age, family circumstances and lifestyle. Typically you will want your mortgage and any loans cleared. Similarly, you may wish to provide a fund for burial and allow your surviving partner to take time off work. In Addition, you may also want to replace your income for a time while your children are dependent.
Our Financial Advisors will be happy to discuss with you your possible options from all the mentioned life assurance companies. We will advise you which company to go with, depending on your specific circumstances.
Types of Cover
Is where the amount of cover always remains the same throughout the term of the mortgage. If in 15 years’ time the balance of your mortgage was €100,000 and one of you passed away. The mortgage would then be cleared and the difference would then be paid to the next of kin. Should the remaining party pass away during the term of the cover. The estate would be paid out a second amount equal to the cover.
Serious Illness
is a standalone cover that will pay-out in relation to the attached illness list. This will not affect the level of cover that protects your mortgage. Also, if further down the line you are willing to renew your level of cover you can do so without providing medical evidence to the life company which holds this policy. The cost of the future premium will reflect the age at which you decide to do this. This is the most expensive type of cover but also comprehensive.
Is where the amount of cover always remains the same throughout the term of the mortgage. If in 15 years’ time the balance of your mortgage was €100,000 and one of you passed away. The mortgage would be cleared and the difference would then be paid to the next of kin. Should the remaining party pass away during the term of the cover a second amount equal to the cover would be paid out to the estate. Also, if further down the line you are willing to renew your level of cover you can do so without providing medical evidence to the life company which holds this policy. The cost of the future premium will reflect the age at which you decide to do this.
Is where the amount of cover always remains the same throughout the term of the mortgage. If in 15 years’ time the balance of your mortgage was €100,000 and unfortunately one of you passed away. The mortgage would be cleared and the difference would then be paid to the next of kin. Should the remaining party pass away during the term of the cover a second amount equal to the cover would be paid out to the estate.
Is where the amount of cover always remains the same throughout the term of the mortgage. If in 15 years’ time the balance of your mortgage was €100,000 and one of you passed away. The mortgage would be cleared and the difference would then be paid to your next of kin or estate. Also, if further down the line you are willing to renew your level of cover you can do so without providing medical evidence to the life company which holds this policy. The cost of the future premium will reflect the age at which you decide to do this.
Is where the amount of cover always remains the same throughout the term of the mortgage. If in 15 years’ time the balance of your mortgage was €100,000 and you passed away. The mortgage would be cleared, and the difference would be paid to your estate or the next of kin. Serious Illness is a standalone cover that will pay-out in relation to the attached illness list – this will not affect the level of cover that protects your mortgage. Also, if further down the line you are willing to renew your level of cover you can do so without providing medical evidence to the life company which holds this policy. The cost of the future premium will reflect the age at which you decide to do this. This is the most expensive type of cover but also comprehensive.
Is where the amount of cover always remains the same throughout the term of the mortgage. In 15 years’ time if the balance of your mortgage was €100,000 and you passed away, the mortgage would be cleared. The difference would then be paid to your estate or the next of kin. Serious Illness is a standalone cover that will pay-out in relation to the attached illness list. This will not affect the level of cover that protects your mortgage. This type of cover is comprehensive.