Mortgage sorted?
Mortgage protection, life insurance, and income protection can get complicated. OMAC is here to help
OMAC Mortgages & Finance Ltd is a
company.
Life assurance is a financial product which pays tax-free money to a beneficiary in the event of your death. It’s a legal requirement for the family home in Ireland – and advisable in a lot of other situations too. It typically involves you paying a monthly amount in exchange for a lump sum payout in the event of your death.
Life assurance
Does someone depend on you financially? If yes, you should almost certainly put some protection in place. And remember, life assurance isn’t just for those earning a salary. If you’re a stay-at-home parent, for example, it’s an important protection to consider.
OMAC - Life assurance
OMAC Mortgages & Finance Ltd is a company.
Mortgage protection
Mortgage protection pays out if you die during the period of your mortgage. Mortgage protection is a legal requirement in Ireland in order to get a mortgage for your main house. It’s a very sensible piece of cover to make sure that your house is debt-free in the event of your death – but you’ll likely want to insure for more than that so it’s not just the bank that is protected.
OMAC - Mortgage protection
OMAC Mortgages & Finance Ltd is a company.
Income protection
Income protection, or permanent health insurance, is insurance which replaces your income in the event that you cannot work due to illness or accident. Normally, it kicks in after you have been out of work for 3, 6 or 12 months, and pays until you are able to return to work. You can generally cover up to 75% of your income.
OMAC - Income Protection
OMAC Mortgages & Finance Ltd is a company.
