We all like to think we’ll be there to take care of our family’s needs but unfortunately, that’s something nobody can guarantee. Safeguarding your financial future is a priority for most people. Life is full of surprises and a serious illness, accident or extended period of unemployment can really throw a spanner in the works. The key, is to anticipate those bumps in the road and be prepared for them.
Consider the consequences of not being able to work for 6 months or a year as a result of an illness or injury or the death of the family’s breadwinner. Nothing can compensate for the emotional loss that such a catastrophe causes, however, it is possible to minimise the financial loss to your family by putting in place appropriate protection insurance cover.
At O’Leary Financial Planning we can help you determine the most appropriate type & amount of insurance cover to suit your personal circumstances.
At O’Leary Financial Planning we can help you build that financial safety net for you and your family.
Your ability to pay the rent or mortgage, car insurance, electricity, food, Netflix, even save money is all dependent on you earning an income. How would you manage if this income suddenly came to an end because of long-term illness or injury that stopped you working for 3 months or more? Your health and ability to earn an income is the firm foundation on which your future wealth is built...
Income Protection Cover will protect your lifestyle. It provides you with a replacement income until you get back on your feet so you can continue to meet your monthly mortgage repayments and other financial commitments.
Guaranteed Mortgage Protection, provides security for your family by protecting your home, in the event of your death. Unlike most types of insurance, the benefit decreases over the term of the policy, in line with the decreasing capital owed on your mortgage.
You can choose standalone cover for mortgage protection that will protect your mortgage in the event of death or you can combine your policy with serious illness cover. If you choose to add serious illness cover onto your mortgage protection policy, your mortgage would be repaid in the event a serious illness or death.
Whether you are taking out a new mortgage or have an existing plan in place, why not give us a call. We have access to a wide range of options on the market and can source the most suitable one for you and your specific requirements.
Life Insurance provides financial security to your family in the event of your untimely death. Your beneficiaries are guaranteed to receive a tax-free lump sum that can be used to replace your income, pay bills and clear outstanding loans. Generally, you will only require life cover when you have dependents who rely on your income.
Life Insurance policies may be liable for inheritance tax as part of the total net value of all the assets received by the beneficiaries unless you have a Section 72 Life Insurance Policy.
You should consult your Financial Adviser about succession planning.
Serious Illness cover protects you and your family against the financial impact of a potentially life-changing diagnosis. It pays you a lump sum that can go towards paying your day-to-day household bills, travel expenses, extra childcare, or additional specialist costs not covered by your health insurance. Whether you have dependents or not, serious illness cover provides you with financial security so you have time to recover and get back on your feet.
Serious illness can have a devastating impact on your life. Check with your employer if this is included in your benefits or give us a call for more information and advice.
There are very few families in Ireland that have not been affected in some way by cancer. Thankfully, rates of survival are increasing in Ireland all the time. Regardless, experiencing a cancer diagnosis can be a real rollercoaster taking a huge physical, emotional and financial toll on the patient and their family.
Cancer Cover is different to traditional serious illness plans as it focuses solely on cancer and therefore, costs less than serious illness protection. It can help take the financial pressure off you and your family providing the assistance you need following a cancer diagnosis. There’s no medical and as long as you have not had cancer before you are guaranteed to be accepted if you are aged 18–74 and resident in the Republic of Ireland. There is an immediate cash payment once you’ve been diagnosed, followed by income payments for 12 months, with additional payments after surgery and during hospitalisation.
At O’Leary Financial Planning we’re here to make it as easy for you as possible. We will be here to support you and make sure that all valid claims are processed quickly and efficiently.