Life Cover and Income Protection

Increase in the cost of Life & Income Protection cover, from this December.

Many of you may already know that from December 21, 2012, the use of gender in calculating insurance premiums across Europe will be abolished. This means that unisex rates will become available. The anticipated effects are that income protection (PHI)
for men and life cover for women will become more expensive.

It’s a good time to take out that policy or review the cover you have in place, as you may find it more expensive in the near future. To talk to an advisor, call Servatus Ltd, (01)8280013 or email

Life Cover can pay you a lump sum amount or a monthly income amount, or both:

  • To your family, so they can continue to meet monthly outgoings and
    maintain their current lifestyle.
  • To your family, if a stay at home parent dies to meet additional expenses a family might face, such as childcare costs.
  • To pay off any existing debts or loans. e.g. a Mortgage

What can Income Protection do for you?

  • It can provide you with a replacement income if you are unable to work due to accident, injury or illness.
  • It can ensure your lifestyle doesn’t have to change if illness strikes.
  • It can be used to pay your bills and living expenses until you are able to return to work, or if not, until your retirement age.

Author: Geoff Whelan

Geoff graduated from UCD / Institute of Bankers in May 2009 with a degree in financial Services. A (QFA) Qualified Financial Advisor since 2005, Geoff has strived to build on his knowledge of the financial services industry, particularly in the areas of personal financial planning , retirement planning and wealth management.