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  • lowcostlifecover.ie
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    Original URL path: http://lowcostlifecover.ie/component/mailto/?tmpl=component&template=health1&link=12a80bb9814010d807b9a3cee0e4d63ce9c80100 (2016-04-26)
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  • How safe is your State pension? Five ways the benefit may be cut
    qualify for the State pension and thereby reducing how much they re entitled to over their lifetime could offer some relief to the exchequer Moreover the higher the number of people working the higher the number of those who are making PRSI contributions Over in the UK the government has just launched a radical review of the pensions regime to assess whether or not their system is sustainable and affordable for future generations The UK already expects to link its pension age to general life expectancy after 2028 The Office for Budget Responsibility the financial watchdog has forecast that the pension age will have to rise to 69 by the late 2040s before increasing again to 70 by the early 2060s For Culligan it s the most credible approach provided that life expectancy continues to rise Today a 65 year old male is expected to live until he is 81 3 years and a female until she is 84 8 years Fast forward 30 years however and by 2045 life expectancy may have increased to 86 years for a man and 88 9 years for a woman Push out the dial to 2065 and a man may be expected to live until 88 6 years and a woman until 91 4 years As such Culligan suggests in his report that the pensionable age should increase again to 69 years by 2038 and by one year every 10 years thereafter In practice this would mean that the State pension age would have risen to 70 years by 2055 and to 71 years by 2065 So anyone born after 1969 wouldn t be entitled to a pension until they were at least 69 while those born after 1994 wouldn t get their pension until they were 71 While it might reduce the period of pension payments for the State and therefore ease the burden this won t offer a solution of itself As Culligan notes in the report using this lever in isolation would not put the State pensions system on a sustainable footing Moreover increasing the pension age can be a bit of a distraction from the real issues at hand After all people retiring at 65 now have to wait until they are 66 before they can claim the State pension but they are entitled to jobseeker s benefit albeit at a lower rate of 188 a week This means that there is still a cost to the exchequer whether people in this category are getting the pension or not While employers have been loath so far to increase their own pension age to match the new State pension age of 66 Kelly says that new legislation will make it more difficult to prevent employees from working longer It will become an area under increasing pressure she says Employees will want to work beyond age 65 or their contractual age and employers will be grappling with that Another option suggested by the OECD in its review of the Irish pension

    Original URL path: http://lowcostlifecover.ie/blog/item/53-how-safe-is-your-state-pension-five-ways-the-benefit-may-be-cut?tmpl=component&print=1 (2016-04-26)
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  • lowcostlifecover.ie
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    Original URL path: http://lowcostlifecover.ie/component/mailto/?tmpl=component&template=health1&link=183930096c54afff7237a4c327d6e94c1c3fd790 (2016-04-26)
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  • What Every Millennial Should Know About Life Insurance
    are not blood relatives The longer you wait the higher the cost because Life Insurance premiums are based on your age when you apply The longer you wait the greater the chance of being turned down later for reasons of health hobby or occupation If you plan to buy life insurance when you re older or fear that the monthly cost may be too high remember that it s OK to start small to play safe and buy more coverage later Ask yourself these questions in the event that something suddenly happened to you How much money would my loved ones need to spend to cover my funeral costs Would my spouse or significant other have enough money to pay the rent or mortgage How much money would be needed to replace my share of household income Do I have a sizable amount of debt such as credit card or student loans that someone else would be responsible for paying Whole Life Insurance vs Term Life Generally there are two basic kinds of life insurance whole life and term life either of which may make sense for you depending your particular situation Both have advantages Whole life policies provide coverage for up to a lifetime as long as premiums are paid Some people prefer whole life insurance because policies will pay out the sum insured when they die regardless of term Term life policies provide coverage for a fixed period of time or term Term Plans offers a term from 5 years up to 50 years Some Millennials opt for term life insurance because premium rates are usually lower than for whole life coverage Want more information At Low Cost Life Cover ie we re available online or by phone Our knowledgeable Customer Service representatives will be pleased to answer

    Original URL path: http://lowcostlifecover.ie/blog/item/50-what-every-millennial-should-know-about-life-insurance?tmpl=component&print=1 (2016-04-26)
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  • lowcostlifecover.ie
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    Original URL path: http://lowcostlifecover.ie/component/mailto/?tmpl=component&template=health1&link=276c2fa6dd224b75c11e301d95758b2285a136c1 (2016-04-26)
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  • Are you paying €3,000 too much for insurance?
    benefits not included in all protection plans offered by competitors All the same with savings of as much as 3 000 up for grabs it could certainly cost you to blindly stick with your bank when buying life cover By choosing a broker who offers you the choice of a wide range of life insurance products on the market including those sold by the banks you could save yourself about 100 a year more if you re buying a number of products Choosing a bank over a broker when buying life cover isn t the only thing which could push up the cost of your insurance Your habits as well as any illnesses or medical conditions you have also come into play What habits will cost me with life cover Smokers could pay as much as 50pc more for life cover than non smokers A non smoker is generally someone who has not smoked any tobacco products in the past 12 months Similarly you could pay three times as much for life cover than a teetotaler would if you have a history of heavy drinking You could also struggle to get insured When you apply for life cover your insurer will ask you how many units of alcohol you typically drink a week If your weekly consumption of alcohol is above certain limits you may not be able to get cover If you have suffered from alcohol dependence you may not be able to get cover until a year has passed since you stopped drinking After that year you may be able to get cover but at three times the price charged to someone who does not have a history of alcoholism or heavy drinking This 300pc loading could decrease gradually over the years to 50pc as certainty of recovery becomes apparent Adrenaline junkies will also pay more for life cover because of the high risk of accidental death So a fondness for boxing diving motor racing mountaineering parachuting hang gliding and pot holing could lead to a higher premium Another thing which could push up the cost of life insurance is your weight Overweight people can pay more than twice the price for life cover as slim people do Insurers look at your body mass index BMI your weight in kilos divided by your height in metres squared when you apply for life insurance Insurers would expect you to fall within a normal BMI range If you go beyond this you could see your premium increase by between 75pc and 225pc If you are underweight but with no other underlying medical or mental condition you can also pay around 50pc extra for cover depending on by how much you are underweight You could struggle to get cover at all if seriously overweight What about illnesses and medical conditions There are a number of medical conditions that you might consider manageable but which could still see you either paying over the odds for life cover or having insurers turn you

    Original URL path: http://lowcostlifecover.ie/blog/item/49-are-you-paying-3-000-too-much-for-insurance?tmpl=component&print=1 (2016-04-26)
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  • lowcostlifecover.ie
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    Original URL path: http://lowcostlifecover.ie/component/mailto/?tmpl=component&template=health1&link=1db6571ac79184060c1751c01c3bf61856aa1e5f (2016-04-26)
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  • Cancer The Biggest Claim For Serious Illness. How Well Are You Protected?
    out 48 million for 763 Specified Illness Claims with an average payment of 62 913 Cancer accounted for 64 of the Specified Illness Claims with heart related conditions responsible for 18 of claims Commenting on the data Gerry Hassett Managing Director Irish Life Retail said that the scale of the claims paid by Irish Life during 2015 highlighted the importance of people protecting themselves and their families When you consider that we paid an average of 4 million a week to people and families affected by illness and death and that 40 of our specified illness claims were to people under 50 years of age it really shows how insurance can help ease the financial burden for families at difficult times he said Get your Quote for Serious Illness Cover Now www lowcostlifecover ie live quote Anthony Curran is an advocate for your financial future who takes a holistic approach to your needs and goals He will work collaboratively with you to define what success and financial independence mean to you and how best to achieve them Anthony is well qualified to provide long term support and guidance on a variety of financial challenges and will help you focus on what you can control Defining your own financial freedom will help you be more comfortable about retirement and the possibilities of creating the life you want Whether you are single married or raising a family your approach to financial well being now will shape your life for years to come www lowcostlifecover ie Read 284 times Last modified on Wednesday 09 March 2016 12 06 Tweet Published in Blog Tagged under Low cost life cover Life insurance personal finance Term assurance mortgage protection money pension retirement planning mortgage insurance cheap life cover Cheap life insurance investing financial advice financial planning

    Original URL path: http://lowcostlifecover.ie/blog/item/48-cancer-the-biggest-claim-for-serious-illness-how-well-are-your-protected?tmpl=component&print=1 (2016-04-26)
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