Financial advisor, Gearoid Cleere
Financial expert Gearoid Cleere has advice on getting the best value insurance cover - with one in four people being diagnosed with a serious illness at some stage of their lives - Life and Illness Cover is a vital investment.
A staggering statistic reveals that 40% of claims come from people under 50 years of age.
Serious illness cover is very affordable, which isn’t always expected. For example, a 30-year-old male who is a non-smoker could get €100,000 serious illness cover for just €23 per month. This covers illnesses such as cancer, heart attack and stroke. Many Insurance companies cover approximately 50 illnesses with cancer, heart attack and strokes remaining the most common making up 75% of all claims.
For those who do currently have cover, South East based financial expert Gearoid Cleere of Cleere Life and Pensions is encouraging people to shop around as an annual saving of up to €200 can be made which can lead to a savings of thousands over the plan duration.
When people become ill it is a great help if they do not have to worry about day to day finances. Gearoid says, “My recommendation to clients is to always take out illness cover valued at double their salary. If you are diagnosed with an illness it may take up to two years to recover. This guarantee’s that mortgages, car repayments, school costs and utility bills can be paid as usual.”
Illness cover is important for everybody, but especially for people who don’t have sick pay entitlements or income protection, or dependents who rely on their income.
Cleere Life & Pensions can also review existing plans and compare them with the open market. As brokers, they have access to all the life companies allowing them to search the market for the best value. There are currently discounts available of up to 10% on premiums for illness plans and up to 20% on life cover and mortgage plans with Cleere Life & Pensions.
Gearoid says, “We go through all the illnesses with our clients and present them with a report outlining these. We work on an individual basis and tailor plans to each person’s budget and needs.”
Founded in 2015 Cleere Life and Pensions provide financial planning solutions for clients in the areas of pensions, protection and investment. Working with individuals, sole traders and companies from across the South East, they provide planning solutions about pensions, investments, savings and life assurance.
For more information see www.cleerelife.ie. Cleere Life and Pension are located at 8 Dean Street, Kilkenny.