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01 906 1122
Trusted brokers for
life cover.
There are many common myths about life insurance that stop people from purchasing life insurance. You may believe one of these misconceptions and have not purchased a policy yet. Life insurance could protect you and your loved ones in case of a sudden death or illness.
Just because you are young, single and healthy does not mean there is no need for life insurance. If you have any outstanding debt from education loans, car loans, or other debts, when you pass away, these debts will be transferred to your estate and still need to be paid of. Life insurance policies can help pay off these debts in case of sudden death, so your estate is not stuck paying it off. If you get a policy when you are young and healthy is usually cheaper, which makes it more manageable.
This is not always the case because company provided life insurance usually only covers 1 to 2 times the amount of your salary. 1 to 2 times your salary is not a sufficient amount. It is recommended to have 10 to 15 times the amount of your salary. Life insurance policies can provide this recommended amount in case of sudden death or illness.
This is just not true. Most life insurance providers have many different policies for people of all lifestyles. There are policies for people with different health conditions, for married and single people, and policies for people in all stages of their life.
The lose of one source of income can be a harder hit to a family than it is thought to be. Just because one spouse is not the breadwinner, you still lose one source of income for your family and this can take a bigger toll than you make think. If both income earners for the family have life insurance policies, in the case of a sudden death, the policy can assure the family can live at the same standard.
Serious health conditions may disqualify you from life insurance, but not all health condition disqualify you form life insurance. Most insurance companies have plans for people with health conditions like diabetes, high cholesterol, or high blood pressure. If you have a health condition, the premiums might be higher, but you can find a policy. Read more here.
To read more myths about life insurance click here.
At Oomph.ie, we provide competitively priced life insurance policies from the top 6 insurance providers in Ireland and can find a policy to fit your life. Take our 3 easy steps to get a free personal quote today!
Fear of missing out—is more than just a hashtag to millennials. Many Millennials admit that #FOMO drives a lot of their decisions on what they wear, what they do, even what they eat and drink. We live in a world of social influence.
But one area where #FOMO really does you a disservice? No one is afraid of missing out on the benefits of life insurance. And why should you? There are so many other things competing for your money. That said, do you know what you’re missing out on by not having it? Are you making one or more of these mistakes?
Three in four Millennials overestimate the cost of life insurance—sometimes by a factor of 2, 3, or even more! Imagine being able to afford life insurance for the cost of that daily latte, and for less money than your avocado toast habit!
Nothing could be further from the truth, and yet four in 10 Millennials think this is true, according to the same study! Younger candidates have an easier time getting life insurance because they are generally healthier.
In an era where social networking does all things, it’s natural to think that your loved ones can crowdfund their way to solvency after something happens. But life insurance benefits aren’t taxed like GoFundMe proceeds are, and life insurance has a defined, immediate payout that GoFundMe does not. Plus, your loved ones don’t need the stress or the stigma of having to ask others for help.
In fact, one study recently suggested that many Millennials are more concerned about planning their next night out with a significant other than planning for their financial future. But sensible steps now will make for a better future with that significant other long past tomorrow night’s date.
Take a look at your student loans. Were any of them private loans? Who is liable for them—in full, often immediately—if something happens to you? There are other debts you may need to consider as well—anything where you have a co-signer.
Millennials are getting married, having families! Young families have enough to worry about with daycare costs and increased medical costs, right? Well, imagine what your young family would do about those bills if something happened to you. Could your spouse pay the rent or mortgage without your income?
One recent college grad recently confessed to me that he hadn’t elected into any of his employee benefits at the dream job he got in his field because “my dad takes care of that.” He was shocked to learn what he was missing out on!
Yes, adulting *is* hard, but a sound financial plan that includes retirement and insurance coverage (health, life, and disability insurance are all part of that plan) goes a long way to making sure that you don’t look back on your younger years and think, “Oh, why didn’t I start this sooner?” Plus, you don’t have to do it alone—that’s what insurance agents are for. They will sit down with you at no cost, or obligation, to discuss what you need and how to get coverage to fit your budget. But then, signing up—that IS on you. Don’t miss out.
For more myths read here.
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.
You are starting a young family and you have the future to look forward to with your spouse and family. Young families have new commitments, such as buying your first home or having children. Another commitment is to make sure your family is financially secure no matter what life may bring.
If you were to die unexpectedly, life insurance is there to make sure your family can maintain their standard of living. It can also make sure they stay in your home, stay in the same school and keep on the same future track. It also gives the grieving spouse or partner time to make decisions. In some cases, it gives the spouse time to find work outside the home, without worrying about finances.
Whether you bring home more or less than your spouse, your family relies on your income. Any income would be missed if something were to happen to you. Even if you don’t work outside of the home, having life insurance is a smart choice. Stay-at-home parents perform valuable services such as childcare, cooking, housecleaning and household management. These services can be costly if that person has to get a job away from the house.
Term policies are quite popular with many young families. This is because they typically offer the greatest coverage for the lowest cost. Term insurance provides protection for a specific period of time (the “term”), and can be ideal for people who feel they have financial needs to cover that will disappear over time, such as a mortgage or a child’s education.
However, many families realize that even after the kids are grown and the mortgage is paid off, their need for insurance continues—to provide income for a surviving spouse, eliminate debts, pay taxes, etc. Because life insurance premiums increase with age, renewing your policy when the term expires can be very expensive. Moreover, poor health may make renewal impossible.
Term life insurance makes sense for many young families because their need for coverage is great and their budgets are often limited. But that doesn’t mean it’s the only type of insurance you should consider. There are other types of insurance on the market that might suit you and your family needs for the future. Contact one of our professional and highly confidential agents today and they will get you the best life insurance on the market today with the leading brokers in Ireland.
At Oomph, we can find a life insurance policy that will protect your young family. Get your free quote here.
Do you zone out, hear nothing at all or just hear blah blah blah about insurance? Well, not to worry: we’ve got the low-down on what you need to know and it’s not boring or overwhelming, I swear!
You know about savings, you know about retirement. You might know a bit about investments and long-term financial planning for your health and happiness. And life insurance helps with planning for your loved ones’ long-term health and happiness, especially those who depend on your income, in case something was to happen to you.
In addition to employment-based life insurance (which typically only lasts as long as your employment at your job), there’s term and permanent life insurance.
Sure, there are forms of life insurance that get pricier the more features you add on to it, and the price goes up if you’re a smoker or dealing with health problems. But most people think policies costs about three times as much as it really does. For an example, a healthy non-smoking 30-year-old man can get a €250,000 30-year level term policy for about €18.23 a month. Click here for a quick quote.
Getting married? Having kids? Changing jobs? Bought a house? Significant life events are often the time you become most aware of the need for life insurance—and on that note…
Perhaps you have a life insurance policy that your parents got for you when you were a baby. Perhaps you have a term policy from when you bought your house but now you have a bigger family and you’re concerned about getting them all through college. Or perhaps you want to bump up your coverage because your overall cost of living has changed. And on *that* note …
Sometimes people think life insurance is to pay off their own debts and funeral expenses. But a key advantage of having a policy is to ensure that the people who depend on you will be OK with their on-going and future financial needs if something happens to you. Need help figuring this out how much? Go to this online.
Because life insurance doesn’t get tangled up in estate claims, it generally pays out quickly, sometimes in days or weeks.
Keep your premiums paid up and your beneficiaries up to date, and the door with your agent open so that your loved ones know who to call if needs be. Keep your paperwork with your other vital documents.
Using a specific kind of policy, life insurance benefits can become “living benefits,” money you can access before you die, or use to pay for long-term care, as two examples.
If you still need help getting a handle on all this, talk to us. We can help you understand the ins and outs and the best policy for your budget and needs. Because of course—the most important thing to know about life insurance is that it’s there to help the people you love the most. Contact us today.