Whether you need Life Cover or Mortgage Protection for you or your family, Farrell Financial Services offers a range of products including Mortgage Protection, Life Cover and where requested, Specified illness cover. As we are fully independent we always provide our clients with the best cover available at the most competitive premiums There are a number of different types of plans available depending on your individual circumstances and the type of cover that you require.Go to http://www.easylife4u.ie for instant on line quote.
The most common form of life assurance is mortgage protection, which is life protection cover, designed to pay back your mortgage in the event of your death or serious illness. The amount of your cover decreases at an assumed interest rate in line with your mortgage balance. In most cases you are legally required to take out a Mortgage Protection plan if you have a mortgage.
With level term, the value of cover stays the same for the term of the cover. In the event of the death of a policy holder, the full amount that has been insured will be paid out.
These plans insure you for the whole of your life or for as long as you keep paying your premiums. Unit Linked whole of life fund values are not guaranteed so your premium may increase to keep the amount of cover and benefits at the same level in the future. Normally if this type of plan is finished by you, you may have a cash value although this is not guaranteed. Your application and price determined for any of the above products may be affected by your age, the level of cover required, occupation, health, smoker status, the term of time you require the cover for and other aspects of your lifestyle or medical history.
This is the simplest and one of the least expensive forms of cover. At outset you decide on the amount of cover and the period of time – both are fixed. If you die before the end of the term the money is paid to your dependants / estate and if death doesn’t occur during the term no benefit is paid and the plan ends.
This is similar to level term, but it gives the added option of continuing the policy at the end of the term – without having to do any additional medical examination.
Have you ever thought about Inheritance tax? With the dramatic increase in property valuations, the inheritance tax bill payable by the beneficiaries of your estate could be significant! We are able to offer you a whole of life policy that will allow your beneficiaries to settle probate and inheritance tax liabilities, leaving their legacy intact.
In the event that you are diagnosed with a medical condition that is covered under the policy, you will receive a tax-free lump sum. Different providers cover different specified illnesses under their products.(Terms and conditions are available on request).