Has anyone else ever been put off talking about protection because the language can be totally confusing? It can be daunting when you don’t fully understand things like decreasing cover, level cover, income on death, lump sum on death, not to mention standalone, dual life, accelerated or joint life first event. But, it is relevant and personal protection is an important consideration for all of us. So we need to simplify it.
Why do we need it?
When death or illness strike, we want to have peace of mind that we’re covered, whether it’s with financial support of life insurance, or compensation for lost income due to illness – so we can focus on being there for our family,
At AIB, they say that ‘protection is the cornerstone of financial planning’ and we have to agree. When disaster strikes, the last thing we want to think about is money. By preparing and being ready for whatever may come our way with insurance, we are protecting ourselves with a financial cushion that won’t leave us hanging when we need it most.
Why do we need it now?
Life cover, specified illness cover or income protection, done right and done early, can be one of the greatest “peace of mind” parts of your financial planning jigsaw. Protecting your income, yourself and your family gives you the assurance that if financial uncertainty hits, or a dreaded specified illness, or even if death occurs, that you have a financial cushion to soften the impacts.
And don’t forget, as our financial circumstances change, so too should these considerations. So you should never be afraid to review your protection annually to reflect these changes. With AIB, you can review your plan together to make sure it makes sense at that specific time.
As we get older, these things can seem more complicated – but they’re also more essential! We insure our cars, phones and houses – so why shouldn’t we insure ourselves, the most important thing of all!
More men (39%) have life cover than women (32%) currently in Ireland with the very small amount (34%) of the overall population having some form of cover at all.
It’s time to review your protection today - make the time, and make it a priority
You can talk to an AIB Financial planner, who can not only tell you what cover you need, but also what cover is right for you. Keeping it simple and understandable, you can work together to find what’s best for you and your family.
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