If you still have your Dread Disease Cover, Serious Illness Cover, Income Protection or Life Cover back in SA should you keep it in place or replace it with new cover in Ireland?
Before I get into it, a massive thankyou once again to everyone that has sought my help over the last few months and to those of you that have referred me onto friends and family, I am so very grateful.
If you’ve made the move to Ireland, there are some very compelling reasons to review the insurance you currently have in place:
· Cost: Generally speaking, Life Insurance and other protection cover is about 1/3 cheaper in Ireland than in SA. In other words, you could get 33% more cover for the same price on average. (This is mainly down to longer life expectancy rates in Ireland)
· Prices ‘Locked In: In SA it is quite common for policy premiums to increase every year, often by as much as 15%. Eventually premiums become so expensive that people struggle to pay the premiums or end up cancelling the policy altogether. Most policies in Ireland allow you to lock in the premiums so you will know exactly how much you will pay and you will avoid the annual price hikes.
· Claims - In the event of a claim, how easy will it be to manage the claim and who will look after the process if you are living in a different country? This is an area that not many people think of, but something that needs consideration if Ireland is going to be your home for the foreseeable future.
· Income / Salary Protection – If you have an Irish Income Protection policy, you can claim full tax relief on the premiums, meaning that the Taxman will pay 40% of your premiums if you are a higher rate income tax payer. If you have your income protection back home you are probably missing out on this!
· Dread Disease / Serious Illness Cover – The quality and the quantity of illnesses covered is far greater with an Irish policy. From looking at a well know SA provider, they will only cover 16 Specified Serious Illnesses. The top 3 companies in Ireland cover in excess of 100 Specified Serious Illnesses each, including most of the illnesses covered by the policy providers in SA. Children are also covered for up to €25,000 on serious illness policies until up to the age of 25 (as long as they are in full time education) for no additional charge.
· Your circumstances have changed: It’s always important to review your cover when you change jobs, get pay raises or move home. Chances are, you’ve done a few of those things all at once!
How else can I help?
I have helped hundreds of South African nationals to find their feet when moving to Ireland. I know it’s not easy moving to a new country, trying to understand these areas which are quite different than what you are used to back home. I will take the time necessary to give guidance, helping you to make more informed decisions which ultimately will be the right ones for you moving forward. I will help you to establish what your financial needs are and show you the most cost-effective ways to do this without cutting any corners. All of this can be done in a safe environment for you over the phone and on Zoom meetings.
These are the areas that I specialize in:
-
Life Insurance, Serious Illness Cover (Family Protection)
-
Long Term Income Protection (Protect your earned income until retirement)
-
Applying for a mortgage
-
Mortgage Protection
-
Investing Money
-
Saving money, offering superior potential returns than that of Banks deposit accounts
-
Retirement Planning, Pensions (How to plan for retirement)
Are You Paying More Than You Have To?
If you already have life cover back in South Africa, please contact me. Generally speaking you’ll get far more value for your money with life insurance policies in Ireland due to the lower risks and higher average life expectancy. Irelands average Life expectancy is approximately 82 years old, where-as South Africa’s average life expectancy is only approximately 65 years old. Where there is Lower risk there will always be lower premiums.
Testimonials From Existing Clients
Please see the below link to click on to view some of the testimonials and comments from our valued clients over the years. Please click here to view the Testimonials from our valued clients.
Kind Regards,
Danny Coad QFA
Tel: 0862422441
Tel: 00353862422441 (If contacting from abroad)
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
