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Life Assurance

Taking care of your family is part of your everyday life. Providing them with financial security is one way of looking after them. But what would happen if you or your partner were no longer around?

It may be an uncomfortable thought, but it is easy to put your mind at rest be ensuring you have adequate Life Cover.

Believe it or not there is still tax relief available on Life Assurance premiums for Self-employed and Company Directors.

The table below shows how long your Life Assurance cover will last, based on different monthly income requirements. You may be reassured to see just how well your family will be provided for, or you may discover you need to review your cover.

Monthly Income Needed Capital Sum Required*
 
€100,000
€200,000
€300,000
€400,000
€500,000
€1,500
6 Yrs
13 Yrs
4 Mths
22 Yrs
8 Mths
35 Yrs
5 Mths
55 Yrs
9 Mths
€2,000
4 Yrs
5 Mths
9 Yrs
6 Mths
15 Yrs
6 Mths
22 Yrs
8 Mths
31 Yrs
9 Mths
€3,000
2 Yrs
10 Mths
6 Yrs
9 Yrs
6 Mths
13 Yrs
4 Mths
17 Yrs
8 Mths
€4,000
2 Yrs
1 Mth
4 Yrs
5 Mths
6 Yrs
10 Mths
9 Yrs
6 Mths
12 Yrs
4 Mths
€5,000
1 Yr
8 Mths
3 Yrs
6 Mths
5 Yrs
4 Mths
7 Yrs
4 Mths
9 Yrs
6 Mths
€6,000
1 Yr
5 Mths
2 Yrs
10 Mths
4 Yrs
5 Mths
6 Yrs
7 Yrs
9 Mths
€7,000
1 Yr
2 Mths
2 Yrs
5 Mths
3 Yrs
9 Mths
5 Yrs
1 Mth
6 Yrs
6 Mths
€8,000
1 Yr
2 Yrs
1 Mth
3 Yrs
3 Mths
4 Yrs
5 Mths
5 Yrs
7 Mths
€9,000
11 Mths
1 Yr
10 Mths
2 Yrs
10 Mths
3 Yrs
11 Mths
4 Yrs
11 Mths
€10,000
10 Mths
1 Yr
8 Mths
2 Yrs
7 Mths
3 Yrs
6 Mths
4 Yrs
5 Mths

Source: Caledonian Life Assurance 01/10/2006 * These values assume the life assurance policy payout is invested returning a growth of 6% per annum and that income requirements will increase in line with inflation of 3% per annum. Assumes first monthly income is taken after one month.

If you would like additional information on life assurance products or advice on whether you have sufficient life cover, please contact either John, Lisa or Annette.

 
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