Whether it is to protect your family or for Mortgage purposes, consider the following before you put a Life Assurance Policy in place:
- Every life assurance company has different benefits in their policies. For example, currently free benefits can include access to free medical second opinion, family bereavement counselling, stress management advice, free indexation on first year’s premium, electronic cigarette smokers on non smoker rates. These benefits vary from company to company. KNOW THE BENEFITS IN YOUR POLICY.
- Life Assurance companies run promotions at various times of the year offering various discounts. SHOP AROUND.
- Your Mortgage provider may have told you that you need to put in place a policy for X amount. However, is this sufficient for your needs? Everyone is different. This is the amount to cover the mortgage provider, not you or your family personally. MAKE SURE YOU CARRY OUT A FINANCIAL REVIEW TO ENSURE YOU ARE SUFFICIENTLY COVERED.
- Your Mortgage provider may have told you that you need to put in place a policy for X amount. However, is this sufficient for your needs? Everyone is different. This is the amount to cover the mortgage provider, not you or your family personally. MAKE SURE YOU CARRY OUT A FINANCIAL REVIEW TO ENSURE YOU ARE SUFFICIENTLY COVERED.
- Disclose all medical information, even if you don’t think it’s relevant. In the event of a claim, at a difficult time, you want a claim to be paid without any questions. Therefore ensure you MAKE ALL DISCLOSURES WHEN ANSWERING MEDICAL AND FINANCIAL QUESTIONS.
- Are you getting the best deal? There has been a decrease of c. 40% in the cost of Life Cover over the last decade. REVIEW YOUR EXISTING POLICIES, THERE MAY BE BETTER OPTIONS AVAILABLE.
- What is Decreasing Term Assurance vs Level Term Assurance vs Convertible Tern Assurance? BE AWARE THERE ARE DIFFERENT TYPES OF COVER FOR EVERY DIFFERENT NEED.
- Use a Financial Broker who is an Authorised Advisor, therefore completely impartial when it comes to Life Assurance and Mortgage Protection advice. Let them do the work for you. A Financial Planner will, having gathered the necessary information, research the market for you to find the best option for your needs. USE AN IMPARTIAL FINANCIAL BROKER.
- Get the best cover for your specific needs so you can be confident and know that you are covered when something unexpected happens.
We can help. S.A. Faughnan (Brokers) Ltd. tick all these boxes so talk to us. We will get the best deal to meet your specific needs.
Click here for more information on Life Assurance and Mortgage Protection or email glenda.faughnan@safaughnan.ie or call Glenda on 01-8245555 to have a chat over the phone.