In 2016 the property website Daft showed the largest annual increase in rents ever recorded on their website since it’s beginning . There are over 850,000 people in rental accommodation in Ireland, and data has shown that although the majority of renters used to be young people in their twenties now a rise in families and people in their 30’s, 40’s and 50’s are renting.  Just like a mortgage payment rent is a monthly cost that must be paid in order for the tenants to remain in the property, for families in particular the same risk of illness or accident and even death of a spouse can put the families ability to pay the rent into jeopardy.  A changing shift in thinking has to take place so that those who chose to rent in the place of purchasing a home, recognise that it is as important for them as tenants to take out protective cover should the unexpected happen.  In Ireland there has been a move in thinking away from simply purchasing a home as the only option, many people are choosing long term rental as their lifestyle for many reasons and personal benefits.  If anything was to happen that would disrupt the normal rent payments a family could find themselves in arrears or in danger of losing their home just as they would be if they defaulted on mortgage payments. The demand for rental accommodation is high and it’s a renters market so having security is priceless.
People who rent are now being strongly encouraged to review their current financial situation and consider taking out a life insurance policy, it is actually a surprise to some people how little it can cost to protect their rental payments, some policies cost  as little as fifteen euro a month.
For more useful sources, you can access the Daft.ie Price report here, or you can visit the Citizens advice link here which will give you all the information you need on renting a home   There are many fantastic estate  agents in the Wexford area who can help you such as CD Auctioneers, Warren Estates, Quinn Property, Sherry Fitzgerland and a full list can be found online.
http://www.daft.ie/report/2016-q4-rental-daft-report.pdf
You can talk to us here at Southeast Financial Services and we can come up with the perfect cover for you and your personal circumstances. For a more comprehensive look at life insurance click here