Did you know that generally only married couples and registered civil partners are exempt from Inheritance Tax?
This means, if you are living with your partner, you may have to pay Inheritance Tax on the lump sum payment from a life insurance policy and even on your house if jointly owned.
Inheritance Tax is currently 33% and this is deducted from any inheritance above the threshold of €16,250.
If you are a cohabiting couple and want to ensure that your life insurance policy and/or house is secure against Inheritance Tax contact us and we will review your options with you.
3 Reasons to Answer Health Questions Truthfully:
1. Insurance Companies Want To Pay Your Claim
Insurance Companies are in business to pay all valid claims quickly and hassle free. By providing full details of any medical history at the outset removes any doubt that your claim will be refused for non-disclosure. Full disclosure prevents delays in assessing any claim in the future.
2. You Want Your Insurance To Pay Out
If you make a claim on your policy you will want the claim to be paid. If it is found during the claim process that you withheld details at the time of your application your claim may not be paid. This only adds stress to an already upsetting time so by providing full disclosure you can be assured your claim will not be refused.
3. The Vast Majority Of Applicants Are Accepted For Insurance
A history of a past medical condition does not mean your policy will be refused so ensure to provide full disclosure with as much information during the application process.
Finally, you should remember that the responsibility for providing full details of your medical history rests with you. To ensure your claim is paid you should ensure that you answer all questions fully and truthfully.
What would happen if you were out of work due to an accident? Who pays the bills?
Accident Payment pays you a weekly amount of up to 50% of your average weekly earnings if you are unable to work for more than 2 weeks due to an injury resulting from an accident.
Sports injuries, road accidents and occupations related accidents are the 3 main reasons for claims.
This policy will pay up to €300 per week tax-free, to a maximum of 52 weeks, and can be got from a little as €6.00 per week.