One of our most important roles as your financial adviser is to ensure that you and your family are protected financially against illness or death. Sometimes, this entails us gently convincing some clients that it doesn’t make sense to wait until you are older, before putting this protection in place. There are a number of good reasons to take out life cover without delay – here are some reasons that come to mind.
Taking out life and/or illness cover sooner rather than later in life always makes a lot of sense.
Many illnesses come on later in life, at that stage resulting in premium loadings or sometimes not being able to get life cover at all. So yes, you’re paying for cover for longer. But the cover you get is at the lowest rates available.
You’re not being regularly medically screened.
As we all get on in years, we tend to become more aware and cautious in relation to our health. There’s a big industry out there in “Executive Health Checks”! While these are great and indeed show a level of responsibility on your part, they can also show up unwanted bad news. This is important as you now can set about getting treatment for your ills. However any unwanted news must also be disclosed when seeking life assurance, resulting in higher premiums.
You have not yet taken up risky pursuits.
Risky pursuits such as working in high risk areas of Africa and South America, or taking up flying as a past-time are exciting, but also expensive when it comes to life assurance. The risk of death increases, and so does the cost of life assurance as a result. So you’re better off getting your life assurance in place before you turn to such high risk activities.
Cover is cheaper at a younger age.
One of the big drivers of the price of life assurance is your age. Getting cover in place early secures these lower premiums.
So don’t be surprised when we recommend life assurance and/or specified illness cover to you, even though you may still have most of your financial journey still ahead of you. It’s our job to make sure that you have the right financial products in place through every stage of life. We look forward to finding the right cover for you.
It’s worth getting professional advice when it comes to something as important as Life Assurance and/or Specified Illness cover so if you are reviewing your Financial Protection, get in contact with Con Friel & Company on 074 9121301, by email confriel@eircom.net or by Contact Form.
