Income & Mortage Protection

You can’t predict the future but you can plan for it.

Life can be unpredictable, but with the right life insurance cover in place, you will have peace of mind.

We insure our home, our car, our holidays and sometimes even our family pets but what we often overlook to insure is the most important of all, ourselves and our families.

  • Many people do not realise the financial impact that an unexpected serious illness, injury or premature death can have on a family. The unfortunate reality is that Irish families are struck by these events every day and the financial impact can be significant and long lasting.
  • Having a life insurance plan is an effective way of providing peace of mind knowing that should the worst happen, your loved ones will have the financial security they need at such a difficult time.
What is Life Insurance?

Life cover ensures that your financial responsibilities are taken care of in the event of your death.

Piece of Mind
By starting a plan you know that your family will be more financially secure if something happens to you.

Pay off debt
The lump sum can be used to pay off car loans or credit card balances.

Protect against losing an income
A lump sum could help your family keep their standard of living, even though they no longer have your income.

Pay funeral costs
The average cost for a funeral in Ireland is over €4,000.

Arrange financial cover for you or your family with Life Insurance. The cost of each product will depend on your age, your health, whether you smoke, chosen term, selected product type and agreed level of cover. You must keep paying the policy premium to ensure your life cover policy is kept in force.

Income Protection

Income protection is a way of making sure you and your family have financial security should you need it.

When life is going well, it’s easy to take money for granted. It pays the bills and lets you take care of your family, enjoy your home, car, hobbies and holidays. Your income is essential to your quality of life. 

What if you had an accident or long-term illness that prevents you from earning a living? That’s when income protection becomes invaluable. It gives you an alternative income while you’re unable to work.

Questions to be considered:
  1. How would you repay your mortgage?
  2. What financial plan have you got in place if you got sick and couldn’t work?
  3. How long will your employer pay your salary if you’re unable to work due to illness or injury?
  4. If you qualified for the State Illness Benefit due to ill health and not being able to work, could you financially survive?
  5. During this period of sick pay, what percentage of your salary will be paid?
  6. Have you thought about how you would cover your living expenses if you had to take an extended period of unpaid sick leave?

Income Protection pays you a regular income if you can’t work because of an injury or illness while you are employed. Its aim is to replace some of your earned income once any state benefits are taken into account, so you could still maintain the lifestyle you are used to. If you are in full-time employment or if you are self-employed and earn an income, you can take out an income protection plan

What’s covered?

Any type of illness or injury which prevents you from working is covered.

Monthly payments are made until you can go back to work, retire or your policy ceases.

You choose the level of cover you require and how soon it begins after you have to stop working as a result of your illness or injury.

You’re covered for up to 75% of your income, less social welfare entitlements.

You may qualify for tax relief on your premiums up to your marginal tax rate.

Hope for the best and plan for the worst. Your health is your wealth.

 

Please do not hesitate to contact us should you wish to discuss the above requirements in more detail or for further information.
We can be contacted by phone at (01) 4972544 or email info@hegarty.ie

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