How Much Life Insurance Do I Need?

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We will help you work out a reasonable level of cover. We need to balance affordability and cover to find a reasonable compromise.

How much life insurance and mortgage protection do you need?

When others are relying on your income for their livelihood, serious thought must be given to what will happen to them if you pass away.

It may be your partner or your children or perhaps your parents as they get older.Each will have different needs and for varying time frames.

This is where life insurance kicks in and if you arrange cover early enough, it can be surprisingly inexpensive when compared to the benefits.

A male aged 30 in good health .can take out a 35 year €500,000 term life insurance policy for around €40 per month.

Areas to be considered when estimating your life insurance requirement are:

Liabilities and Debts

  • Car loan
  • Credit card
  • House mortgage
  • Investment property mortgage ( very often not covered by a mortgage protection policy)
  • Taxation liabilities

Final Expenses

  • Funeral and associated arrangements

Providing for your partner and children

  • Lump sum required to generate an investment income for your family
  • Funds for children's education
  • Funds to maintain existing standard of living

Business concerns

  • Funds to allow business buy out your interests
  • Funds to cover potential business personal guarantees

Inheritance Taxation

  • Depending on your assets inheritance may be payable.

These are important matters and it really does make sense to sit down with an expert and arrange adequate protection..

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