Investment property
Do you own an investment property?
- 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 you to make a better decision?
In the event of your untimely death, having a life insurance contract in place would benefit 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.
Want to know more? We are available to discuss your options, and we look forward to hearing from you.
Our job is to help you choose a product and structure that will help you meet your goals.
telephone | 091441188 and/or email | office@nelsonlife.ie
RETIREMENT & PENSIONS | INVESTMENTS | FINANCIAL PLANNING | LIFE INSURANCE
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