Top 10 Reasons to arrange life cover in Ireland in 2024.

May surprise some on here that the #1 reason is not to protect the bank.

Most people have life cover to protect the bank, what about your children. In the rush to get the mortgage we all sort out the mortgage protection. Over the years I heard so many people say we will go with the basic cover while building or moving into the house and we will review it…..the review rarely happens.

The main reason people first come in contact with life cover is when arranging a mortgage. The bank require this as they simply are lending you money and want to make sure if you or your partner die on them that they get paid back.

People dont take out life cover because of add on’s such as free Terminal Illness Cover or Free kids Life or Illness Cover, ..they take it out to protect their kids!!!! All that other stuff is just a nice extra.

Take the time to consider who is most important to be looked after if you are not around. The bank or the kids!!! ( now you do need to protect both ) but many out their only have sufficient cover to clear the mortgage.

Note the names listed are the top 10 kids names in Ireland in 2023…I am shocked Richard didn’t make the list!!!!

Get in touch on 087 772 9268 or email Richard@ferrisfinancialplanning.ie for more a free chat.

Thanks

R