Insurance options in case of illness

28 December 2013
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The four types of health insurance to consider are as follows

  • Medical insurance ( vhi ) where medical costs are covered above certain minimum thresholds
  • Income protection - an insurance policy that replaces a percentage of your income after an illness that leaves you unable to work
  • Serious illness insurance - an insurance policy that pays a lump sum on the diagnosis of a serious illness
  • Redundancy and accident protection= an insurance policy that pays your mortgage payments for one year in the event of an accident illness or redundancy

We all have limited funds to spend on insurance.

It is important to weigh up the costs and benefits of the various insurance policies and take a view on the risks of a claim.If you are a civil servant you may consider the threat of redundancy to be extremely unlikely and consider protection in this area unnecessary.

Many people have cancelled their medical insurance as they simply cannot afford the premiums.

Some consider serious illness cover too expensive and opt for cancer cover only

Many individuals are unaware that you can insure your income ( income protection)

If you are concerned about or need advice on any of these issues just call us on 01 8327250Family