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Life Assurance

Approximately 32,000 people die in Ireland each year yet two-thirds of them have no life cover and the other third have insufficient cover.

Providing financial security for your family in the event of your death should be of critical concern but the choice of life assurance products is bewildering.

Advent Financial will provide you with advice on the level of cover required and all other benefits that may be included with your protection plan.

By being regulated by the Central Bank of Ireland , Advent Financial is obliged to give best advice on insurance, pension and investment plans and currently holds letters of appointment to act as an intermediary for:

        • Royal London
        • Zurich Life
        • Irish Life 
        • New Ireland Assurance
        • Friends First
        • Aviva Life & Pensions

Types of cover:

Policies can be arranged on:

          • a single life basis, i.e. insuring the life of one person
          • a joint life basis, i.e. insuring the names of the persons on the policy which will only pay out in the event of one death
          • a dual life basis, which will pay out on the first death and also on the death of the second life on the same policy.

Policy Types:

There are many different types of life assurance products available in the market place, so it is important that to discuss specific requirements with a professional advisor to ensure that the cover put in place is the most suitable to individual needs.

Advent Financial will advise on the level of cover required and both the correct plan and the length of time for which the cover is required. Quotations can be provided from any or all of the companies with whom Advent Financial holds agencies.

The options include:

Level Term Assurance

Level Term Assurance provides cover for a specific time frame, usually at a fixed monthly cost. Some policies allow cover to be indexed-linked which means that cover will increase annually by usually 5%.

At the end of the term, the policy must cease and there are no further benefits. There is no surrender value with this type of product.

Convertible Term Assurance

A Convertible Term assurance policy is similar to a level term plan in that the cover is chosen for a specific term, there is usually a fixed monthly payment and some can be indexed-linked to allow an annual increase in the level of cover.

Where it differs is that it allows further cover to be put in place without evidence of health, anytime up to the final day of the existing policy. This effectively gives the option of taking out another life assurance policy with no reference to health at that time. This cover costs approximately 10% more than the level term policy but it is worth paying this small extra for this valuable option.

Whole of Life Policy

A Whole of Life policy can provide cover to last throughout your life and there is usually a surrender value building up within the policy. Some contracts are reviewed after ten years and periodically thereafter to ensure that there is a sufficient premium being paid to maintain cover until the next scheduled review. Cover generally increases at each review.

There is also an option of purchasing a whole of life contract where there is no built-in review mechanism. This would allow the policyholder to have a sum insured in place forever at today’s prices. Whole of life cover is generally more expensive than the other covers outlined.

Mortgage Protection

Mortgage Protection policies are generally put in place to cover an outstanding mortgage loan amount. For most home loans, it will be a requirement of the lender that such a policy is put in place and cover is usually for the amount and the term of the loan.

As this cover decreases in line with the reducing loan balance, this cover is often the cheapest form of life assurance cover. It is worthwhile to periodically review the cost of this cover, as the rates charged for this type of cover change from time to time as it is a very competitive area in the market from a price point of view. While initial monthly savings could be small, when the amount is calculated over the remaining term of the mortgage, it can be significant.

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Serious Illness

We may not like to contemplate ever suffering from serious illness but every year tens of thousands of people are struck by such misfortune as heart attack, stroke, cancer, kidney failure or the need for a major organ transplant.

Bad as the physical and mental trauma of serious illness might be, it is accentuated by additional stress and financial hardship if you cannot work and so cannot earn a living.

Serious Illness cover was designed to give you peace of mind now and income later should you be so affected. It is available as a stand-alone policy or can be included as part of a family protection policy, while it is often included in mortgage protection arrangements.

From the large choice available on the market, Advent Financial Services can help relieve the worry of such illness for you, your family and perhaps your own business by selecting the right product and right benefits for you.

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Income Protection

One in every six Irish workers will be out of work for more than 6 months over the course of their working life due to sickness or disability, according to recent statistics.

If you no longer had your income, how could you afford the basic essentials of daily life, let alone the little luxuries?

Income Protection cover is designed to protect your income in the event of you being unable to work due to sickness, accident or injury.

Protection of up to 75% of your income is possible, with tax relief on premiums at the highest rate. Premiums can either be paid by individuals or by their employers.

Cover is available on an individual policy basis or may be included as part of a pension arrangement. The cost is based on the level of cover required and occupation type.

Sick Pay – be aware that:

  • Employers are not obliged to provide sick pay
  • 85% of private sector employees are fully dependent on the State Benefit after 6 months of absence
  • Public sector employees may receive full pay for 3 months depending on Grade, reducing to half-pay for a further 3 months. You may be entitled to temporary rehabilitation for a maximum period of 2 years.

Social Welfare Benefit ? Be AwareThat:

  • Self-employed individuals are not entitled to any benefit

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Mortgages

At Advent Financial, we know a thing or two about mortgages and how to get you the best deal. We take the hassle out of getting a mortgage for you. We’ll do the shopping around the various providers and take care of the paperwork for you. Advent Financial will take away the stress and get you a better deal.

It’s not easy being a first time buyer – not only do you have to find the house of your dreams at a price that you can afford but then you have to face dealing with estate agents, solicitors, valuers not to mention the move itself!

Although Advent Financial can’t do everything for you we can make the important part easy – getting your mortgage!

Buying your first home can be an exciting but stressful experience. Advent Financial will help find the best mortgage possible for you.

Warning: YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER LOANS SECURED ON IT.

Mortgage Protection

Mortgage Protection policies are generally put in place to cover an outstanding mortgage loan amount. For most home loans, it will be a requirement of the lender that such a policy is put in place and cover is usually for the amount and the term of the loan.

As this cover decreases in line with the reducing loan balance, this cover is often the cheapest form of life assurance cover. It is worthwhile to periodically review the cost of this cover, as the rates charged for this type of cover change from time to time as it is a very competitive area in the market from a price point of view. While initial monthly savings could be small, when the amount is totaled over the remaining term of the mortgage, it can be significant.

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Pensions & Retirement Planning

Pensions represent one of the few financial benefits that still attract substantial tax reliefs and Advent Financial Services can demonstrate how cost effective a well-constructed pension programme can be.

Whether you are self-employed, a company director or a PAYE earner, it is better and less expensive to start a pension sooner rather than later.

Sound Financial advice from us now will ensure you have the necessary funds to enjoy an active retirement.

When planning for Pensions, the following options are available:

  • Personal Pensions – more information
  • Company/Executive Pensions – more information
  • Group Pension Schemes – more information
  • Self-Directed Pensions – more information
  • PRSAs – more information

Warning: The value of your investment may go down as well as up. You may get back less than you put in.

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Savings & Investments

Saving for ‘that rainy day’, for that special occasion or simply for future security should be uppermost in most people’s minds.

Investment plans can be started easily, from just a few euro per month, with payments made by direct debit, directly from salary or by lump sums.

The choice is substantial and Advent Financial Services can ease the process by explaining the benefits and pitfalls of the various options on offer.We offer independent advice that will help make the most of hard-earned funds.

At Advent Financial Services, we will carry out an in-depth financial analysis of your attitude to risk and what it is you want to achieve from your money. From this, recommendations will be made on the type of funds in which you could invest your money.

Whether you have a lump sum to invest, are considering an education fund or want to start a regular savings plan, Contact Us today on 01 651 6161 for further information or to arrange an appointment.

Warning: The value of your investment may go down as well as up. You may get back less than you put in.

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Wealth Management

Advent Financial Services specialise in products for both the small investor and forhigh net worth individuals.

We provide a professional and confidential service to our clients in the following areas:

Asset Management

Our primary business is offering advice in the management of investment funds to investors, institutions and private clients. We offer a wide range of funds that cater for most investor preferences.

Assurance and Personal Retirement Solutions

Advent Financial Services provides a range of Investment and Retirement solutions to enrich our customers’ investment decisions.

In the changing pensions environment, we aim to provide relevant products and service tailored to customer needs based on the platform of quality customer service.

Our range of products and services includes:

  • Personal & Corporate Investment Products – Investment plans for lump sum savings.
  • Pre-Retirement Products – Tax Efficient Savings Plans to provide a fund for retirement.
  • Post-Retirement Products – Investment of accumulated pension fund when you retire.

Warning: The value of your investment may go down as well as up. You may get back less than you put in.

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Keyman Insurance

Keyman insurance is probably one of the most overlooked insurances for business – but also one of the most important.

As a businessman you might have public liability insurance and you insure your buildings, stock and vehicles. You may even have professional indemnity insurance and legal cost insurance. Is that all?

What About Your Other Primary Assets – Your Key Staff?

Key staff represent the heart of every businesses but no more so than the small, often family, businesses that have up to 4 employees. Prolonged absence through serious illness or even death can be terminal for some of these enterprises. The risks are the same for limited companies, a partnerships and sole traders.

In this context Keyman Insurance is a must. Keyman Insurance represents a group of insurance plans all designed to financially protect business from the affects of prolonged illness or even death of staff who are central to the prosperity of the business. The insurance can’t replace people but it can provide cash to buy time and cover the costs of temporary staff, recruitment, loss of profits or provide a cash injection.

The insurance falls into four categories – insurance to help your business recover during the extended period when your key personnel are unable to work or to train or recruit a replacement, insurance to protect profits, insurance to protect shareholders or partnership interests, and insurance for anyone involved in guaranteeing businesses loans or banking facilities.

Keyman Insurance on those who are central to your business.

Who Are Your Key People

  • They are the ones who, create,drive and maintain your business
  • The people without whom your business would lose sales and profits or without whom even the basic viability of your business would be shaken
  •  Directors, Partners, Owners.
  • Insuring these people will provide the extra cash needed to take on temporary staff or recruit and train a replacement

Keyman Insurance to Protect Your Profits

The effect of losing key staff goes well beyond simply the cost of their salaries and the cost of replacement. As they’re central to the businesses prosperity, their loss will knock on to the bottom line. You can insure for loss of profits too!

Keyman Insurance to Protect Shareholders or Partners

Here we are talking about insurance to protect interests in the event of long-term illness or death. Families may want to sell their stake in the business but the remaining members in the business may not want those stakes held by newcomers. Keyman insurance schemes can be implemented which provide the necessary finance to buy the shares from the original shareholders or their estate.

Keyman Insurance Insuring Those Who Provide Personal Guarantees

When a business takes out a loan or raises bank finance the lender is quite likely to require a personal guarantee or a charge on their personal property. This especially applies to small and new businesses.

So what happens if these guarantors become seriously ill or die? The lenders may well be in a position to call in the loan. What happens then? Again, Keyman Insurance is the answer. Insurance can be structured to pay-off the loan and thus free the business and the guarantor’s family, from major worry.

We can arrange the necessary paperwork and steps to implement the cover you need and ensure any tax liabilities are met.

So, can your business afford to ignore Keyman Insurance?

Click on the links below to find out more information on the different Keyman Insurance.