Is your family prepared if the main bread winner dies?

Nearly half of Irish people know how much their family needs if they die but very few have sufficient cover in place, according to a survey that suggests people are not adequately protecting their family.

About 55% of those surveyed agree with insurance companies who say that a surviving family needs a lump sum of between 10 and 15 times their current annual income to maintain their current lifestyle. The problem for most families is that they fail to make adequate provision.

At present the average life assurance policy is actually under €300,000 which is only 7 times the average industrial wage!

Of course none of us like to consider our own mortality or the consequence of dying unexpectedly, but there is a clear disconnect between what people actually have in place and what they think they should have in place.

The survey also showed that 3/4's of respondents believed that their family would just have to tighten their belts slightly if the principal earner died!

There are a variety of reasons as to why people do not have sufficient life cover in place........often it's due to factors of affordability or what people believe the cost of this cover would be. In other cases it may simply be down to the fact that the person hasn't given it enough thought!

Don't leave your families future to chance......act today by making your appointment for a FREE consultation with Alasdair.

Please contact Alasdair today on 01 810 1912 or email info@agsfinancial.ie he will be happy to carry out a FREE financial review or health check.

* Source of survey results from Caledonian Life