Questions

- do you have an investment property which forms part of your financial plan (cash flow planning) ?

- is it worth more / less than you paid for it?

- if you died, would you leave it mortgage free?

- if you wanted to go ahead and increase your life cover, how do you know you are getting the best value product?

how we can assist

in the case of your death, putting life cover in place would be fit you in two ways

- your family will not have to worry about the mortgage, and will be certain to be able to continue to use the property after your death. If they wish.

- Any rental income could continue to be used towards your family’s longer-term financial planning.

an example, what is possible

Shane and Alison bought a property in 2015. As it was an investment property they didn’t have to take out mortgage protection cover.

Its value quickly rose with the rapid increase in house prices last year they estimated it was worth about EUR 100,000 more than they had paid for it. At that time they viewed it as a valuable financial safety net for themselves if they ever needed it and something they could pass on to their children in time.

Shane and Alison are concerned that the mortgage on their investment property could at some point in the future be higher than the value of their property.

Based on their affordability we advised Shane and Alison to take out a life insurance plan with EUR 155,000 lump sum on death cover for the remainder of the mortgage term.

If either of them died the lump sum payment will help provide certainty and ensure the mortgage is cleared in full.

We are here to help you make a better decision

If you have a financial planning or product question please contact us. Know more. 091 44 11 88 or office@nelsonlife.ie

This article was written by Rory Nelson, founder of Nelson Life. Rory is celebrating 20 years in financial planning this year. Professional qualifications include; UCD Specialist Diploma in Wealth Management, Pension Trustee Practitioner PTP, UCD Professional Certificate in Stockbroking,UCD Professional Certificate in Asset Management (SIA),  QFA FLIA, Pensions Diploma, Mortgage Advice Diploma, CFP module – Tax & Estate Planning and has a degree in BA Accounting & Finance. He has regularly participated in national financial press.

RETIREMENT & PENSIONS |  INVESTMENTS | LIFE INSURANCE | FINANCIAL PLANNING.

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WARNING: Past performance is not a reliable guide to future performance.WARNING: The value of your investment may go down as well as up.WARNING: You may lose some or all of the money you invest.WARNING: These funds may be affected by changes in currency exchange rates.WARNING: If you invest into this product you will not have access until you retire.WARNING: The above content does not constitute investment advice, as it does not take into account the investment objectives, knowledge and experience of financial situation of any particular person. Prospective investors are advised to make their own assessment of the information contained herein and to obtain professional advice suitable to their own individual circumstances.WARNING: The information contained in this document is based on our understanding of current tax legislation and the current Revenue Commissioners interpretation thereof and is subject to change including retrospectively without notice. This is intended as a general guide only and is not a substitute for professional tax, legal and investment advice. 

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