Why Life Assurance is Needed… Especially for the self-employed.
Life Assurance is a form of insurance that could pay a lump sum to your family if you die, provided of course that you have taken out a life policy. They can use this lump sum to pay off bills or the mortgage. These policies are designed to give you peace of mind, knowing that your family will be looked after in the event of your death. These plans can be arranged for a ‘specified term’ or on a ‘whole of life’ basis.
Life assurance can be incredibly beneficial if you are a business owner. If you set up a “Key Person” or “Buy/Sell Agreement” life assurance policy, your employees or key stakeholders will still get paid in your absence.
You can also use a life assurance policy as collateral to secure a small business loan. Basically, the death benefit on your policy will go toward paying off the entirety of the loan in the event of your death, and then the remaining amount will be paid to your beneficiaries.
We have partnerships with a large number of trusted insurance providers across Ireland. Our team will assess your needs, go to the market based on those needs and recommend the most suitable product based on a number of variables. The cheapest quote is not always the most suitable quote, as all life policies vary on the individuals needs. This is why you need a financial advisor to keep you in the right direction throughout the course of the policy.
Get in touch with us today to discuss your personal or company policies.