Tuesday, July 26, 2016

Hot Topic - Whole of Life Continuation Benefit

In this life, nothing is certain except Death and Taxes …. & Whole of Life Continuation Benefit!

Paving the way for the next generation is part and parcel of our progress through life. As we get older, we wish for the success and prosperity of our children and grandchildren. 
Starting a Whole of Life plan could help ensure that your family is not burdened by inheritance tax on the assets you want to pass on to them.
Whole of Life, as you'd expect, is an insurance plan that lasts for a whole lifetime, and is not limited to a specific term. If you pass away, this policy will provide a lump sum payment to your family. It can also provide tax-efficient inheritance planning cover for your family, so as not to impact their inheritance.

How does it work?
When you take out a Whole of Life insurance plan, we'll help determine the level of cover you need. It will depend on your circumstances and those dependent on you. You will then pay a set amount on a regular basis, usually by direct debit. The policy will then pay out a lump sum to your family, should you die. The premium is also guaranteed never to increase.

Product Features
Secure: Life Insurance means your loved ones are financially protected if misfortune strikes.
Tax-efficient: This plan can cover the inheritance tax your family may be liable for if you die.
Flexible: You can choose optional benefits for additional peace of mind.
Considerate: Lump sum payment may be used to cover funeral expenses.

Who is Whole of Life Cover for?
This plan will suit people who wish to have cover for the rest of their life - and not just a specified term. It will appeal to those who have assets that they wish to protect against inheritance tax. Whole of Life Cover can be taken out by anyone aged between 45 and 74 years of age.

Inheritance Tax
Your family may be liable for inheritance tax on your assets when you die. This can be a massive burden, forcing them to borrow money or sell part of the inheritance you leave them to cover their tax bill. Whole of Life Cover removes this burden and protects loved ones from a large inheritance tax bill.
If you’d like more information, please give Michael a call on 086 8440541 or email info@mkfinancial.ie.

Michael Keville T/A MK Financial is regulated by the Central Bank of Ireland


Tuesday, July 12, 2016

Hot Topic #19 : Get Wise - Make A Will


Less than 1 in 3 adults in Ireland have a formal Will! (Source: Irish Life July 2014)

A Will is important to ensure your loved ones are cared for, as you would like, following your death.  A Will gives peace of mind to those left behind.
As a parent you can appoint guardians to look after your children.  Otherwise decisions about their care and education may be decided by the Courts.  You can also appoint a trustee to manage the financial side of things for the benefit of your children.
A Will ensures that your estate will be divided according to your wishes and not as the Succession Act 1965 dictates.
By making a Will you can make maximum use of the thresholds for your children’s and spouse’s exemption from inheritance tax and ensure that there is less potential for delays and disputes over your estate.
A Will allows you to appoint someone trustworthy and capable to sort out your affairs after you die. You choose an ‘executor’ who takes on this responsibility. 
A valid Will can save time and money for those left behind. 
Making a Will automatically involves a checklist of your assets and liabilities. This can give you a good idea of whether or not you have made adequate financial arrangements for your dependants.  Will they have enough funds to manage financially over the long term?  Do they have immediate access to money in the short term or is everything in your name? 
 3 steps to putting your affairs in order 
1. Make a list of all of your assets and liabilities. 
2. Meet with your Financial Adviser to assess your protection needs. 
3. Make an appointment with your Solicitor 
See a solicitor if you need to make a Will or make changes to your existing Will. You will need to choose an executor or executors. If you have young children, you should consider appointing guardians and trustees. 
Make sure your partner or someone close to you knows you have made a Will and knows where to find important documents including your Will, Deeds of the house, mortgage details and other financial information
For a limited period, when you  buy your life insurance plan from Irish Life they  are offering you the opportunity to plan another step for the future and to put a basic ill in place for no additional cost. This offer applies to new plans applied for up to 26th August.  
If you’d like more information, please give Michael a call on 086 844 0541 or email info@mkfinancial.ie.

Michael Keville T/A MK Financial is regulated by the Central Bank of Ireland



Wednesday, July 6, 2016

Hot Topic #18 - Life Cover for Parents

Life Cover for Parents
Have you ever thought about how you would like to be remembered?
For most of us, we’re the sum of many parts and some of the highlights might be …
Winning goal scorer in a most important match
Student who had perfect attendance at school
Employee who succeeded in bringing in a great client
But for those who have a family, being the best parent is the ultimate prize of all. 

Taking care of your family and ensuing they have good times now and great memories in the future, is part of your everyday life and no doubt your main focus.
But how can you ensure that your family are protected and looked after should the unthinkable happen to you?  It’s an extremely uncomfortable thought!

By putting Life Cover in place you are ensuring that you can be remembered not only for the good times in the past, but by still being there to care for your family financially into the future.
Protecting your family is probably cheaper than you think and there are lots of discounts available at the moment.
For example €200,000 Life Cover for 30 years could cost you as little as €15.72 per month *
We hope you never have to face this scenario but it’s good to have peace of mind knowing that should it ever happen, your family will be taken care of financially.
If you’d like more information, please give Michael a call on 086 8440541 or email info@mkfinancial.ie.

Michael Keville T/A MK Financial is regulated by the Central Bank of Ireland

* Term Assurance for a 30 year old non-smoker.  Premium includes Government levy (1%). Source: Money Advice. Valid as at 5/7/2016