If 2020 taught us anything it is to prepare for the unexpected, so we think 2021 is the year for us all to ensure as much preparation is put into place and luckily there are some certain unexpected events we can assist you with to being financially prepared for!
What unexpected events can we help prepare you for?
A Serious Illness Diagnosis- Being diagnosed with a serious illness isn't something that we think about and so we certainly do not consider the financial impacts this could have on us. Having a serious illness can leave you out of work which reduces the level of income within a household. On top of this you have added medical expenses, be it medications, consultant fees or even surgery, it can all cause added strain and upset. Being diagnosed with a serious illness is an unexpected event that will never be easy for anyone but having Serious Illness Cover in place eases the financial burden that can come with it as with a successful claim for this benefit a lump sum amount will be paid to you which will help to cover a loss of income and aid in paying medical expenses leaving your recovery as your only concern.
Loss of Income- The income you earn determines the life you lead. It's easy to think of all the ways you use your income; it pays for the day-to-day living expenses and bills that allow you to create a home and provide for your family. In the unexpected event that you could become unable to work due to an illness or an injury. What would happen if it suddenly stopped? The current State Illness Benefit is €198 per week, will this be enough keep your current lifestyle? If you are self-employed there is no State Illness Benefit available leaving you with no regular income, having to rely on any savings and investments. Having Income Protection in place can help protect your lifestyle, limiting the financial consequences of suffering an illness or injury which prevents you from working, by providing you with a replacement income while you are out of work.
Death- In the event of your untimely demise, it could cause a huge financial weight for your loved ones. This brings to them the expenses of your funeral, any outstanding debts you may have along with the loss of your income. Life Cover eases these stresses by providing your estate with a lump sum payment in the event of your death which can be used to cover the initial expenses and also the day-to-day expenses going forward meaning that your family can continue with the lifestyle you have provided to them.
Death or Serious Illness Diagnosis of a Child- It is definitely not something we even want to think of having to prepare for but once you have Life Cover and/or Serious Illness Cover in place for yourself you are also protecting your children, free of charge, with Life Cover of up to €7,000 and up to €25,000 Serious Illness Cover.
Other events you can prepare for under a simple Life Cover Policy are:
The requirement of a surgery, if you have the Surgical Cash Benefit on your policy an amount will be paid in the event of you needing a specified surgery.
The need for hospitalisation your policy will pay for any hospital stay over 3 days once the Hospital Cash Benefit is included in your policy. Yous children are also provided with this benefit once it is included win your policy.
If a break or fracture occurs following an injury and you have the Broken Bones Benefit your policy can pay up to €3,000 if your injury is one of the ones listed.
If you have an Accident that requires you to be out of work for over 2 weeks you can receive a weekly payment of up to half your weekly income by including the Personal Accident Benefit to your policy.
Lastly, any financial loss can be eased with the assistance of building up a Savings that can be accessed when required. We would always recommend having some savings in place but for some unexpected events a savings may not last as long as might be needed. It can be very hard to save what a Protection policy can provide so we would recommend having a Protection Policy set up along with your Savings Plan.
Our premiums start from €10.10 per month. We are also still running our promotion which offers up to 17.5% off Protection Products, so why not contact us today to start your preparation for the unexpected!
*All applications are subject to acceptance terms following full medical disclosure.
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