Link To Budget-2017

The Minister for Finance, Michael Noonan, and the Minister for Public Expenditure and Reform, Paschal Donohoe, have delivered Budget 2017, the first budget under the minority Government. The measures announced include a reduction in the three lowest rates of the USC, increasing the Capital Acquisitions Tax thresholds, a rise in the State Pension (Contributory) and other weekly social welfare payments, and a reduction in DIRT. Details of the changes that will be of most interest to pension, protection and investment clients are outlined in the link above.

Apply for a new protection plan between 4th July and 26th August inclusive. The plan must be accepted and have a start date on or before 7th October 2016. Irish Life will send the customer a voucher to arrange their will.

You cannot cancel an existing Life insurance plan with Irish Life in order to apply for this offer, and your customer must keep up their payments to stay on cover.

A basic will is usually:

a will for married couples and civil partners (where the main people benefiting under the will are the husband/wife/partner and children); or

a will with a limited number of people benefiting from it (such as close relatives or a preferred charity).

Did you know that less than 1 in 3 Irish adults currently have a will in place?

(Source: Irish Life, July 2014).

Royal London have developed what we believe is a valuable, innovative and much needed addition to the market.

Do you want life cover that still pays out after you’ve stopped paying the premiums?
Do you want life cover that gives flexibility and alternatives as your life circumstances change?

What makes this Whole of Life cover different?

One key difference is the Life Changes Option, which we believe addresses the need for flexibility that consumers are looking for when they consider taking out a Whole of Life policy. It not only guarantees the premium but also, if you include the Life Changes Option, it gives real value if circumstances change and you need to cancel your policy.

In normal circumstance if you stop paying premiums on life cover the policy is cancelled but Royal London have changed this.

With the addition of the Life Changes Option, after having had the policy for at least 15 years, policyholders can choose to stop paying premiums and the policy is not cancelled, instead a lower amount is paid out on death (Protected Cover) or you can choose to take an immediate cashback amount and end the policy (Protected Cashback – up to 70% of their premiums). The amount received under each option is clearly stated in the quote given and in the key features documents.

The added benefit only costs an extra 10% in premiums and it means you have some options available to you after having had the policy for at least 15 years. It means you can stop the premium payments and still get valuable benefits.

Talk to Inverdea to compare your current plan versus the new Royal London Whole of Life policy with the Life changes options. Call us on (0404) 67123 www.inverdea.ie

Have nearly 3 times the savings and investments than those who don’t

Are more than twice as likely to have a pension

Are more financially protected as a result of holding more financial products

Feel more financially confident and feel more confident about their financial future

Read The full article by clicking on the link below:

Read The Full Report Here

The Minister for Finance, Michael Noonan, and the Minister for Public Expenditure and Reform, Brendan Howlin, have delivered Budget 2016, their last before the upcoming General Election. The measures announced include lowering some of the rates of USC, increasing the Group A Capital Acquisitions Tax threshold, increasing the State Pension (Contributory) and confirming that the Pension Fund Levy will cease after this year. Details of the changes that will be of most interest to pension, protection and investment…….

Duncan will be chairman of the brokers representation sub-committee. 

What many people don’t realise is that your health isn’t the only thing to take a knock if you are unfortunate to fall ill or have an accident that leaves you incapacitated.

While the wonders of modern medicine – public and private – can have you back on your feet within days or weeks, for some people it can take months and even years before they can return to work.

If that’s the case then the financial consequences can be troubling. Some employers’ sick pay cover comes to an end within 6 months. After that you would be reliant on State Disability Allowance which in 2015 is just €188 per week for a single person.

If you’re self-employed then neither sick pay cover nor State Disability applies. So you can easily see how your finances might well be the next thing to suffer if your health does.

Fortunately, Income Protection is a financial product that is specifically designed to help you cope with the financial consequences of any accident or illness that leaves you unable to work and earn an income. Not only is Income Protection affordable, but like private health insurance, you will enjoy tax relief on any premiums you pay. Which makes it doubly attractive for the times we are living in.

What Income Protection does is provide you with an alternative source of income for the duration of your recovery, either until you return to work or reach retirement age. The policy will begin to pay you an income of up to 75% of your normal income after a waiting/deferred period of between 13 weeks and 12 months.

If you are hospitalised during your deferred period, your Income Protection policy will still pay you a replacement income for each day of your hospital stay. How you use your alternative income is up to you. If you don’t have private health insurance then it could help you cover some of the costs of treatment, just like your normal income could. Most of all, it will help cover many of your day-to-day living expenses such as your mortgage or rent, utility bills, groceries, fuel, education fees and so on.

Even if you do have private health insurance, remember that while it’s designed to cover some or all of the costs of your treatment, it will not replace your income if you are too ill or injured to work. Plus, even when your treatment and medical care has ended, it can still be a long time before you are ready to return to the workforce.

An independent financial adviser is the best person to talk to about what protection policies you need to look after your health and your lifestyle. They will be able to give you a range of competitive quotes for each product and help you compare one policy against another. If your health really is your wealth, then make your financial adviser the first consultant you see.