How best to protect your future, your family's future and the future of your business
You would never leave home without insuring your car, your pet, your house, your surgery even your golf clubs and lap top but many of us never even consider the importance of insuring ourselves and our income.
If your family depend on you financially then it makes good sense to ensure they will be provided for when you are gone. It is vital to consider how the people who depend on you would manage and cope if you were to die prematurely. With Personal Life Cover you can help them to maintain the lifestyle you would have provided if you were there.
Some death benefit may be paid if you are in a pension scheme, but this may be limited and may not be sufficient to sustain your dependants through to their financial independence. If you are not in a pension scheme or if you are self-employed, you may have no cover for your dependants in the event of your premature death.
In this event, Life Assurance provides your dependants with a lump sum. It is of primary importance that you plan ahead to safeguard your nearest and dearest if the worst were to happen to you.
No one except you or your family know the true value of having a spouse or partner at home.
However, in the event of their untimely death, the cost of providing professional child care and housekeeping services would be significant. A Spouse Protection policy can be arranged to meet these costs in such circumstances.
If a key person or shareholder in your practice were to die then the business may be faced with some very difficult decisions which are why Business Protection Insurance should be considered. Thought should also be given to the passing of shares in the event of a shareholder's death.
Business Protection policies such as Life and Critical Illness should be arranged on key persons or partners, to ensure that there are sufficient funds available to cover likely eventualities such as temporary decline in earnings, repayment of business loans, purchase of shares from the deceased person's family, and the business disruption and recruitment costs associated with the loss of technical knowledge, knowhow and personal contacts.
Veterinary Ireland Financial Services can secure the most competitive Life Assurance policies whether for Personal, Spouse or Business Protection. We will also guide you on selecting the most suitable product and assist you in assessing the level of cover appropriate to your circumstances.
To find out more about what we can do for you simply click here.
Income Protection is designed to give you a regular monthly income should you become incapacitated due to illness or injury. Money worries should be the last thing on your mind as you focus on recovery.
You know it makes sense to insure your home, your car and your family against the unexpected. Taking out a pension to fund your retirement is also the sensible thing to do. But what about your income? What if you were to suffer an accident or long-term illness that prevented you from earning an income and providing for your family's lifestyle?
Income Protection is designed is designed to provide you with an alternative income if you suffer any illness or injury which prevents you from earning an income of your own. It helps take care of your financial needs at a time when money worries should be the last thing on your mind as you focus on recovery.
There are many opinions about the benefits of Income Protection. As Income Protection experts, however, we can give you the facts:
Income Protection can give you up to 75% of your usual income when you're off work due to illness or injury. This money is guaranteed until your selected retirement date if you're not fit to return to work.
Your premium won't increase if you make a claim.
Income Protection covers any illness, any injury and any disability. This gives you the complete peace of mind of knowing that no matter what happens, you and your loved ones are protected.
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Specified Illness Cover
Specified Illness Cover provides you with a lump sum cash payment if you are diagnosed with any of 40 specified illnesses and some companies offer partial payment for some specified less serious illnesses or serious accidents.
A partial claim still entitles you to make a full claim at a later stage if you need to.
Your children may be provided with an amount of Specified Illness Cover completely free with certain companies.
Specified Illness Cover from takes the financial worry out of coping with serious illness
Sample of Illnesses covered in full
1. Alzheimer's Disease before age 65 –resulting in permanent symptoms
2. Aorta graft surgery – for disease
3. Aplastic Anaemia – of specific severity
4. Bacterial Meningitis - resulting in permanent symptoms
5. Balloon Valvuloplasty –to correct heart valve abnormalities
6. Benign brain tumour – resulting in permanent symptoms
7. Benign spinal cord tumour –resulting in permanent symptoms or requiring surgery
8. Blindness – permanent and irreversible
9. Cancer – excluding less advanced cases
10. Cardiomyopathy – of specific severity
11. Chronic Lung Disease –requiring long term oxygen therapy
12. Coma – resulting in permanent symptoms
13. Coronary artery surgery
14. Creutzfeldt-Jakob Disease –resulting in permanent symptoms
15. Deafness – permanent and irreversible
16. Encephalitis – resulting in permanent symptoms
17. Heart attack – of specifi ed severity
18. Heart structural repair –with surgery to divide the breastbone
19. Heart valve replacement or repair
20. HIV infection – Occupational / Assault / Transfusion
21. Kidney failure – requiring dialysis
22. Liver failure
23. Loss of hands or feet – permanent physical severance
24. Loss of independent existence –permanent and irreversible
25. Loss of speech – permanent and irreversible
26. Major organ transplant
27. Motor Neurone Disease before age 65 –resulting in permanent symptoms
28. Multiple Sclerosis – with persisting symptoms
29. Multiple System Atrophy –resulting in permanent symptoms
30. Paralysis of limbs – total and irreversible
31. Parkinson's Disease before age 65 –resulting in permanent symptoms
32. Pre-Senile Dementia before age 65 –resulting in permanent symptoms
33. Primary Pulmonary Hypertension – of specifi ed severity
34. Progressive Supranuclear Palsy
35. Pulmonary Artery Surgery –with surgery to divide the breastbone
36. Rheumatoid Arthritis - of specifi ed severity
37. Stroke – resulting in permanent symptoms
38. Systemic Lupus Erythematosus – of specified severity
39. Third-degree burns – covering 20% of the body's surface area or 50% of the surface area of the face
40. Traumatic head injury –resulting in permanent symptoms.
Partial payments for 10 other illnesses - including serious accidents
1. Brain abscess drained via craniotomy
2. Carcinoma in Situ –Oesophagus, treated by specific surgery
3. Carotid Artery Stenosis –treated by Endarterectomy or Angioplasty
4. Cerebral arteriovenous malformation –treated by craniotomy or endovascular repair
5. Coronary Angioplasty – to correct narrowing or blockage to 2 or more coronary arteries
6. Ductal Carcinoma in situ – Breast, treated by surgery
7. Low level prostate cancer with Gleason score between 2and 6 – and with specific treatment
8. Serious accident cover
9. Surgical removal of one eye
10. Third-degree burns covering 5% to 19% of the body's surface area or 25% to 49% of the face's surface area.
These examples are not exhaustive and are subject to change.