Blog and News
3 Top Tips
Please take a minute to read our 3 top tips for mortgage protection policies.
1. Most mortgage protection policies are assigned to banks to cover loans from borrowers, but what most people don’t realise is that you don’t have to use the same company that provides the mortgage and you can change the provider at any time, if you can find a better price. There has never been a better time to review your cover. For example one provider is offering to match the lowest price on the market and then give an additional 10% discount for the full term of the policy. Terms and conditions apply.
2. If there are two people on the mortgage, the mortgage protection is normally sold on a joint life first death, decreasing term
Your health is your wealth. Or is it?
With the lifetime community rating (LCR), now in place, it is thought that between 75,000 and 100,000 people signed up ahead of last Thursday night’s deadline*. It’s reported there was an even split between people buying quality health cover and those buying a cheap, entry-level plan.
It’s worth bearing in mind that not having private health insurance does not mean that you can’t get access to top quality healthcare if you want. If you’re willing to bear the full costs of treatment, then you can have all the top quality healthcare you want, when you want. It’s just that many people could never afford it.
New Health Insurance Rules from 1/05/2015 (LCR)
What is Lifetime Community Rating (LCR)?
In Ireland, everybody is charged the same premium for a particular health insurance plan, irrespective of their age, gender and the current or likely future state of their health. This is called community rating.
On the 1st May 2015, the government will introduce Lifetime Community Rating legislation. Under Lifetime Community Rating (LCR), community rating is modified to reflect the age at which a person takes out private health insurance. Late entry loadings are applied to the premiums of those who join the health insurance market at age 35 or over.
Newsletter Quarter 1 2015
Please click here to see our latest Newsletter for quarter 1 2015
73% are not adequately financially protected in the event of serious illness
According to the survey, just one in ten (11%) Irish consumers has a specified illness policy. It also found that 73% do not believe they or their families would be financially secure should they be diagnosed with serious conditions such as cancer or heart disease.
Just 40% have life insurance cover and two thirds (66%) say they do not feel they have adequate protection in place for their dependants in the event of their death.Last year, Aviva paid out €8 million to their customers in Ireland with Specified Illness cover: €4.6 million to women and €3.4 million to men. The amount was up from €6.5 million in 2013, reflecting the increase in their customer base. In the majority of cases, cancer was the cause of the claim at 63% with heart
Save up to 40% with Tax efficient life cover.
Chances are you were never informed that you can save up to 40% on your life cover. This is one of the best kept secrets in the insurance world.
We all know taking out Life Cover is a good idea…
But sometimes with all the other demands on your income such as mortgage payments, utility bills, holidays, school fees, the weekly grocery shop… it can be hard to see how to budget for Life Cover. However, there is a solution available that delivers the peace of mind that comes from knowing that these expenses can be covered should you die. In fact, it can cost up to 40% less* than a regular Term Assurance policy.
News Letter Q4 2014
Please click here to view our latest newsletter. We hope you find it both interesting and useful.