Life Assurance & Protection
Bua Financial Services can help you with all areas of life assurance and protection cover for you and your family. You never know what is around the corner and protection policies will ensure that you and your family are financially protected in as many ways as possible.
We have access to the leading insurance providers on the market and will source the most competitively priced product for you and your needs. Depending on your situation, you may need a combination of products in order to protect your family lifestyle.
Protection can include:
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Life Assurance
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Mortgage Protection
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Serious Illness Cover
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Income Protection
As financial brokers, we can source the best products for you and your family. Having assessed your needs and financial situation, our team of financial advisors will recommend the necessary insurance covers. We will ensure that the policies chosen will fully protect you and your family from potential future loss of income.
Life Insurance
Life insurance can help ease the financial burden on your dependents in the event of a death. Your family will receive a lump sum that can be used to contribute towards the household, bills, funeral expenses and even children’s education. There are many different types of cover available including term assurance, whole of life, or income on death and Bua Financial Services can help you decide which level of cover is best for your circumstances.
Serious Illness Cover
Serious illness cover, or critical illness cover, insures you in the event that you contract an illness that will drastically change your life. In the event that you become ill and will be out of work for a significant period of time, a lump sum will usually be paid to you two weeks after you receive a diagnosis. Serious illness cover can help buffer against lost income, contribute to medical bills, go towards home adaptations, and even pay off your mortgage.
Mortgage Protection
Mortgage protection cover is designed solely to ensure that your mortgage is paid off in the event of your death. It usually runs for the same term as the mortgage itself, and the amount of cover in place decreases as the amount owed on your mortgage also reduces. The majority of people purchase mortgage protection from their mortgage provider. However, there may be alternative providers who can offer you a better deal if you switch protection policies.
Income Protection
If you become unable to work due to unforeseen illness or injury then income protection provides you with a replacement income. In the event of an accident, sickness or disability, your ability to pay monthly bills and other commitments may be affected. After a deferral period, benefits will be paid to you until you can return to work or until the end of the policy term. This is particularly beneficial if your work or social welfare entitlements may not last as long as you need them to.
Assurance & Protection Benefits – Frequently Asked Questions
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What Does Life Assurance Cover Me For?
Life assurance, also known as life insurance and life cover, protects your family financially in the event of your death. The money received by your family can be used towards monthly bills, children's education, funeral expenses, etc. There are different policies available depending on your family's needs.
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Can I Change Mortgage Protection Providers?
Absolutely you can change mortgage protection providers. The majority of people generally purchase protection from their mortgage provider. However, by shopping around you may find better cover at a better price from a different provider.
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Why Do I Need Income Protection?
Income protection provides an alternative income should you become unable to work due to an unforeseen accident or illness. This is especially important if you are self-employed and rely solely on this as a source of income as you may not be entitled to social welfare benefits.