Author Archives: Mags O'Connell QFA

There are many good reasons to take out life cover, here are just 10. To provide for your loved ones in the event of death. To cover funeral expenses. To cover any personal loans or borrowings in the event of death. To cover any company loans or borrowings in the event of death. Protect a company’s possible lost profits. Provide the necessary finance to buy the shares from the original …read more

There is no exact answer as to how much cover one should have. In an ideal world we would like to arrange enough cover to look after our dependents for when we pass away.  However for most people affordability is a major factor when looking for cover. Typically, between 10 and 15 times your current annual income is recommended to maintain current lifestyle. So for example a family with one …read more

Single Cover Life cover for just one person. Joint Cover Life cover for two people. The policy will only pay out once, on the first or second death. This is often used for mortgage protection, typically paying out on the first death. This cover type might also be used to prepare for an inheritance tax bill for a married couple where “second death” might be chosen. Dual Cover Life cover …read more