LIFE & PENSIONS INSURANCE
Parliament Financial Services Ltd (formerly Dunne-Igoe Pensions & Investments) is a long established Financial Advice Practice, with over 50 years experience in helping thousands through the financial maze. We have access to the major Insurance companies which gives us the power to search for the best financial package to suit your circumstance. We are regulated by the Central Bank of Ireland and are members of the Professional Insurance Brokers Association.
The following is a list of the Products offered by Parliament Financial Services Ltd.
Life & Serious Illness:
Mortgage Life Insurance is a simple, cost effective, guaranteed protection plan, designed to provide a decreasing lump sum benefit, over a specified term, to pay off your mortgage in the event of your death. Premiums are guaranteed throughout the term of the plan.
Term Life Insurance is a comprehensive guaranteed protection plan, designed to provide a lump sum benefit, to help ensure you and your dependents are protected for a specified term, in the event of your death. Payments are guaranteed throughout the term of the plan.
Serious Illness Cover
Specified illness cover is a benefit which pays you a lump sum if you are diagnosed with one of 44 conditions covered. You can use this lump sum to help maintain you and your family’s standard of living, pay for medical bills and help you cope during a difficult time. What’s more, because you may have to adapt your house to make your day-to-day life easier, specified illness cover could help with these outgoings too.
Over 50's Cover
Over 50s Life Insurance could give your loved ones a guaranteed lump sum when you die. It can be used to help to pay funeral expenses, or perhaps to cover any loans or bills you might still have when you die. It is a single-life plan that pays out a guaranteed lump sum when you die (after two years, unless it was due to an accident). The lump sum is guaranteed, as long as you have paid your regular payments until the date of your death or until your 90th birthday. Your regular payments stop at age 90. Anyone aged 50 to 80 who is living in the Republic of Ireland can apply for Over 50s Life Insurance and you won’t be asked any medical questions when you apply.
A pension is a contract for a fixed sum to be paid regularly to a person, typically following retirement from a job or service. There are many different types of pensions, including defined benefit plans, defined contribution plans, as well as several others. For example:
- Personal Pensions
- Self-Employed Pensions
- Executive Pensions
- Company Pension Schemes
If you want to ensure that you have adequate income in retirement, and the State pension will not meet your needs, you should be aware of the pension options open to you.
Contact us for further information.
Investments such as unit-linked funds, shares and the stock market offer potentially higher returns than savings over the long term, but these plans usually involve some capital risk and the risk of poor returns.
Lower risk options include state saving schemes and Government bonds, which are offered by the National Treasury Management Agency (NTMA) and tracker bonds.
When you compare investment products, you should consider a number of key factors:
- Risks involved - most investments do not give you a capital guarantee. How much of your original capital could be at risk? Is there a risk of poor returns? Is there inflation risk?
- The likely return - risk and return go hand in hand, so as a general rule the lower the risk the lower the rate of return you should expect. With longer-term and higher-risk products, you can expect higher returns, but this is not guaranteed and you could lose some or all of your money. You need to consider carefully the effect of this on your financial situation.
- The minimum investment amount - can you top up your investment without having to take out a new product and pay full charges again?
- What fees and charges apply, as these reduce the value of your investment.
- Access to your money - are there penalties if you withdraw your cash early?
You also need to consider how long your money will be tied up for.
Permanent Health Insurance
Income Protection Insurance provides you with the safety net of a replacement income if you end up in the unfortunate position of not being able to work as a result of illness or injury. You can take out Income Protection Insurance if you are in full-time employment or are self-employed and earn an income. Available as either a personal or company plan.