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Why see an Independent Financial Advisor (IFA) when choosing mortgage protection insurance?
Why see an Independent Financial Advisor (IFA) when choosing mortgage protection insurance? If you’re short of time or don’t feel confident when researching mortgage protection insurance the assistance of an IFA can be invaluable. Independent Financial Advisers are professionals who provide advice on all manner of financial products ranging from investments, mortgages, tax restructuring, annuities and protection products such as mortgage protection insurance. If you are looking to save as much money as you can then paying for the advice of a professional seems counterintuitive when buying a product which you could source yourself. However, in the longer term, the initial cost of professional advice can be far outweighed by the saving...Mortgage income protection insurance for young people
Mortgage income protection insurance for young people When you’re young you feel free from financial responsibility and safe from the risk of long-term illness, but could you cope financially if you became ill? When you’re young it’s all too easy to feel free from financial responsibility and safe from the risk of contracting a long-term illness. This carefree attitude is all well and good, but a critical illness can happen to anyone at any time. Everyone assumes it will never happen to them, particularly when they are young, but unfortunately there are too many examples of young people becoming seriously ill for this to be the case. If you are lucky enough to own a property then without mortgage protection insurance in pla...How does Life Insurance work?
How does Life Insurance work? If you take a policy out on your own life, the amount of the policy is paid directly to your estate, or to the named beneficiary. If your spouse or partner takes out a policy on your life, the benefit could be paid to them without going to your estate. If you have a joint life policy, the benefit is usually paid to the surviving policyholder named on the policy. The amount is paid as tax-free lump sum, but anyone who inherits the money after your death may be liable to inheritance tax, depending on their relationship to you. However, you can buy life insurance policies that provide a tax-free lump sum to cover any inheritance tax liabilities that your beneficiaries may have when you die. A standard premium...Five financial considerations for new parents
Five financial considerations for new parents If you are expecting a new arrival or have recently welcomed a cute new face to the family fold, you should carefully consider the state of your finances. Recent research has found that the average cost of raising a child to the age of 21 has risen by €5,000 to €261,000. With a child representing such a huge financial commitment, it is essential to prepare financially for the baby’s arrival. At such a busy time it can be difficult to dedicate much time to your finances, so, to give you a helping hand, here is our list of five financial considerations for new parents. Life insurance Many financial experts encourage expectant parents, particularly mothers, to buy life insurance at the...Income protection for business owners
Income protection for business owners Small business owners do not think twice when it comes to insuring premises, employees or equipment, but when their own income is at stake, 90 per cent are completely unprotected. If the worst should happen, the consequences of not having income protection insurance in place can be dire. Typically, business owners will have a mortgage to repay along with living costs and day-to-day expenses. These are costs that can escalate without income protection insurance in place and quickly become unmanageable. According to recent research, the likelihood of becoming critically ill before the age of 70 is 59 per cent for men and 42 per cent for women. With the threat of heart attacks, cancer and strokes ever-p...