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Life Assurance

Life Assurance 2020-04-16T11:52:44+01:00
Life Insurance

Life Assurance

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. By preparing in advance, you’ll have the peace of mind that comes from knowing you’re protecting your family’s financial future. That’s why we developed several life assurance options to suit your needs and budget.

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. You may wish to provide a fund for burial and allow your surviving partner to take time off work. You may also want to replace your income for a time while your children are dependent.

IPS Financial Advice has partnership agreements with major insurance companies such as Aviva, Irish Life, Friends First, Caledonian and Zurich to provide you with choices on any of your protection needs.

Our Financial Advisors will be happy to discuss with you your possible options from all the mentioned life assurance companies, advising you which company to go with, depending on your specific circumstances.

Dual Life and Serious Illness Convertible Term 

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 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.  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.

Dual Life and Serious Illness Level Term

  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 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.  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.

 

Dual life Convertible

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 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.

Dual life Level Term

Is when 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 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.

Convertible Term

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 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.

Life and Serious Illness Convertible Term

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 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.

Level Term

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 be paid to the next of kin or estate.

Life and Serious Illness Level Term

  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 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.  This type of cover is comprehensive.

Mortgage Protection

Is a life insurance policy that pays off your mortgage if you die during the term of the mortgage.  Amount decreases in line with your mortgage – this is the most basic level of cover.

Dual Life Mortgage Protection

Is where the amount of cover decreases in line with your mortgage. If unfortunately, one of you passed away the mortgage would be cleared.  Should the remaining party pass away during the term of the cover a second amount equal to the remaining decreasing value would be paid out to the estate.

Dual life Convertible Mortgage Protection

Is where the amount of cover decreases in line with your mortgage. If unfortunately, one of you passed away the mortgage would be cleared.  Should the remaining party pass away during the term of the cover a second amount equal to the remaining decreasing value 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.

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