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Why being financially fit is more important than being wealthy

People can be wealthy without being financially fit.

You may have an asset like your house but this does not necessarily make you financially fit from an income point of view. What is the difference between being wealthy and financially fit?

When your biggest asset is your mortgage with your spouse, this is not good. This does not mean that you are financially stable and secure. What if the unimaginable happened and one of you was to suddenly fall ill or worst still pass away. Would you be in a position to pay the mortgage, the bills, lost income? What protection do you have in place if this where to ever happen in your lifetime. Would you need to sell your home to be able to live and pay for your expenses? If so, is your property in positive or negative equity?

This is where life insurance kicks in and provides you with a foundation of financial fitness. It provides you with a safety net and equips you to cope with any sudden events. It prepares you to cope financially and emotionally.

How can Life Insurance help?

People often think that life insurance is expensive and one that is not necessary especially when starting out as a single person or newly weds. But this is not the case. It is very affordable for almost everyone. A healthy 30 years person can get a life insurance for €250,000+ for as little as €20 per month. A 20 year old can get life insurance for over €300,000 for as little €19 per month. A 40 year old can get life insurance €300,000 over 20 years for as little as €30 per month.

We know how important being financially fit is and we know how stressful life can be. So we like to work with our customers, listen to them and provide them with the best competitive prices in the market. We determine the wants and needs of each person and make a plan that suits you.

We are the largest online independent provider of competitively priced life insurance and work with the top insurance companies in Ireland. Get a quick quote today!

You Think You Won’t Qualify for Life Insurance, You’re Wrong!

Think you can’t qualify for life insurance? Think again.

You want to protect your loved ones for the future once you’re no longer around to provide for them. We all do. A life insurance policy can give you the peace of mind that when you are gone, your family will be protected.

However, you’re also worried that your health issues mean you won’t qualify for life insurance because it is meant for healthy people only. So what do you do?

Don’t despair—there is good life insurance out there for you! Whether you have heart disease, mental health issues, kidney or liver problems, or almost any other health condition, you can qualify for life insurance!

Looking at the Big Picture

About 85% of consumers agree that most people need life insurance, but the figures say that there is younger people and couples do not have life insurance for various reasons.

Let’s look at the facts about qualifying for life insurance!

There are plenty of reasons why someone may not have life insurance or may not qualify for it, including:

People do not attempt to buy a life insurance policy because they think that they will not qualify for on. We are here to put an end to the myth that only healthy people can get life insurance.

We are here to put an end to the myth that only healthy people can get life insurance.

 Overcoming Roadblocks

Actually, almost any health history can be insured. The right company can get you insured at an affordable rate, even if you are dealing with any of the issues listed above.

Take a man in his late 40s, who had suffered a severe heart attack in his early 40s, and while he had been declined elsewhere, we were able to find a company that would insure him.

Another great example is mental health issues, many times consumers with mood disorder and or depression with multiple medications are not insurable. Some people with mood disorders may be able to purchase a policy because every company’s underwriting departments have unique fill qualities.  An individual who had been declined multiple times for a policy because of a mood disorder was able to secure permanent insurance because he had a steady job.

If you are dealing with health conditions, life insurance companies love seeing that you’re working to improve or properly maintain your health.

Basically, follow your doctor’s orders and you are much more likely to qualify. And that means being able to get financial protection with life insurance that your loved ones need and deserve.

Let Oomph help you find a policy to fit you life. Get your free quote here.

Do you know the difference between Life Insurance & Life Assurance?

Life Insurance is a term policy and Life Assurance covers entire life with no term.

Life Insurance:

Life insurance and life assurance are different. A life insurance policy only protects you for the agreed upon term. The policy which pays out an agreed lump sum to a specified person in the event of your death (i.e. partner, dependents etc.). You insurance provider and you agreed upon the amount of money and length of term of your policy.

For example, if you decide to take out life cover for €450,000 over a 20 year term it can mean that in the unfortunate event of your untimely death, your dependents will receive the amount quoted above from your insurance provider. But if you outlive the policy your beneficiaries will not receive a payment when you die.

Check out Siobhan’s insurance policy. Siobhan was recently divorced with 2 kids when she purchased her policy. Click the link to see her story.

Life Assurance

Life assurance is different from life insurance because it has not set term. Until you die, you will be protected by your life assurance policy. Therefore, your life assurance will pay your dependents a lump sum when you die.

What Insurance does Oomph do? 

Life Insurance

We have different life Insurance policies to suit you and your circumstances. Life insurance policies are divided into categories like life, insurance, serious illness and mortgage, depending on what you need.

Mortgage Protection

Mortgage protection is the most basic form of life assurance and the cheapest. It secures the ownership of the home by paying off the outstanding amount owned on the home if you were to die within the term of the mortgage. This ensures that the family do not have to pay the remainder of the loan. Eoin and Lisa have just bought a new house and they need mortgage protection, click here to see how much cover and the term they took out with Oomph.

Serious Illness Cover

A mortgage policy can also be added to a serious illness cover policy. So if you were to get sick and unable to work to pay for your mortgage, this cover would help you and pay off your debt. You will have peace of mind if something happened because serious illness cover can be added to your premium.

There are a number of options depending on where you are in life. We offer a range of policies to help you and protect your family.

Term Life Insurance

Term life insurance brings you life insurance over a term, an agreed specified time frame. So If you die or become ill over this term  your family will be provided for financially. This kind of cover makes sense during your working life when you children will still depend on you financially. The terms are generally taken out over 10,20 or 30 years depending on your age and what you can afford.

There are a Joint and Dual Life Cover and the difference is benefits can be quite significant where a joint life policy offers only one pay out in the event of a death to the surviving claimant. However, a dual life policy will provide separate pay outs upon the death of each claimant.

You can take out a single life cover even if you care married. Chris is married whereby his wife has life insurance with her job. Single Life Insurance. 

Dual Life Insurance

Whole Life Insurance

Whole life insurance will cover you for you entire life and is not limited to a specific time. When you pass away, your family will receive a lump sum payment. The plan will also protect your family of  the burden of inheritance tax.

The decision to take out a term life or whole life totally depends on you and your circumstance. We like to discuss this confidentially with our customers and provide you with the best options available.

Contact us today and we will get you the most competitive rates with the top 6 brokers in Ireland today.

Life Insurance – Did You Know!

People are taking out life insurance to protect their families for the future.

Most people take out a policy between the ages of 35-44 with an average income under €40k.

Opinions.ie, The Research Agency conducted a survey based on 300 respondents nationally. It is so easy and affordable to take out life insurance providing peace of mind for the future.

Here are some of the findings.

At Oomph.ie, we can tailor the right policy specifically for you and your family. Oomph.ie was set up to make purchasing life assurance an easy and convenient experience and yet attain the most competitive prices available from the main six providers of life assurance in Ireland. We only use reputable, main brand life assurance companies in Ireland and can usually attain discounted or price promise prices from them. If you have any questions about Life Insurance or would like to know more about the right policy for you, chat with one of our team members at Oomph today.


60 seconds with John Molloy on Business and Finance, Oomph.ie

.Business and Finance interviews John Molloy, Managing Director, Oomph.ie, providing competitively-priced life assurance and advice on running a business.

What was your first job?

While in college, my first temporary job was a part-time barman in The Tuning Fork in Rathfarnham (sadly recently demolished). My first full-time job was an Account Manager in Norwich Union Insurance, Dún Laoghaire in 1988.

What would you regard as your greatest achievement to date?

Giving up smoking.

In three words or less, how do you define success?

Contentment, freedom and happiness.

What is the best advice you have ever been given?

Learn from your competitors, but never copy.

How do you motivate yourself and your staff?

Even if we are on the right track, we will get run over if we just sit there.

If you could step into the shoes of one business person for a day, who would it be and why?

Charlie Munger, American financier and philanthropist, Vice Chairman of Berkshire Hathaway and the low-key partner of Warren Buffet. If I could step into his shoes for a day it would lead to a lifetime of accrued knowledge.

What’s your motto?

I don’t have the power to make life ‘fair’, but I do have the power to make life joyful.

What are your aspirations for the future of the business?

To grow our online life assurance portal, www.oomph.ie, to the largest online independent provider of competitively-priced life assurance to families in the country by 2020.

To grow our Core Life Assurance, Pensions and Investment Business, Orca Financial Ltd to a €1,000,000 recurring annual income business by 2028, adding value through timely transparent financial advice to our clients nationwide through continued long-term relationships.

Even if we are on the right track, we will get run over if we just sit there.

Oomph.ie was set up to make purchasing life assurance an easy and convenient experience. Oomph helps attain the most competitive prices available from the main six providers of life assurance in Ireland. Business and finance are important, so why wouldn’t you buy a life insurance policy. Get your quote here