A Policy You Never Revisit Is Just a Snapshot of the Year You Bought It
Most people set up life cover when they take out a mortgage and then never look at it again. At the time, it makes sense. You have just bought a home, taken on a significant financial commitment and arranged the protection you need. But life rarely stays the same for long. A new child, a bigger mortgage, a new job, a change in income or different family responsibilities can all change the amount of financial protection you may need. Your policy may still be active, but is it still suitable for the life you are living today? For anyone with a mortgage in Ireland , reviewing protection should be an important part of wider financial planning — not something you only think about when buying a property. Life Changes. Your Protection Should Keep Up. Imagine arranging your life cover in 2016. At that point, perhaps you had recently bought your first home, had one income supporting the household and had no children. Your mortgage and financial commitments were based on the circumstances ...