HEALTH MATTERS 109 Personal finance
are no underlying medical issues, the cover is easy to arrange. Just be sure not to cancel the old policy before the new one is in place.
In the current economic climate,
remember all your expenses and outgoings are up for negotiation. Now more than ever companies will respond to your enquiry. We have mentioned some of the old reliables here but have a look at your bank statements and see what outgoings you have. Spend an hour or two ringing or emailing the companies you identify and see if you can get a better deal or even better, get someone else, like an independent financial advisor, to do it for you. You’ll be glad you did.
weather in the last 12 months and also due to the fact that the insurance companies investments haven’t been going as well as they would have hoped. Again if you visit
www.itsyourmoney.ie you will find their cost comparison results for the survey they carried out in December 2009.
HEALTH INSURANCE
Quinn and Vivas have certainly shaken up the market in recent years and there are noticeable savings to be had by shopping around each provider. By using the Health Insurance Authority website (
www.hia.ie), I was able to compare the cost of a standard family plan for two adults and two children. There was a difference of about b400 per annum between the cheapest and the most expensive. Car, home and health insurance are very personal things and what is important to
you may not be so important for somebody else. Something less specific is life cover.
LIFE INSURANCE & MORTGAGE PROTECTION
When you take out life cover, whether it is to protect your family, or your lender in the event of your death, is fairly straightforward when they need to pay out. You are entitled to shop around for cheaper cover at any time; you are not bound to use the cover provided by your bank and you can certainly save a lot of money on this. In my experience, there has been a significant reduction in the cost of cover in recent years and it wouldn’t be unusual for you to be able to save about 20 per cent on the current cost of your cover. Checking the cost of the cheapest available on the market is easy; pick up the phone to an independent financial advisor and they will quote you over the phone. Provided there
Eoin McGee is the owner of Prosperous Financial Services, an independent firm regulated by the financial regulator as a multi- agency intermediary and mortgage intermediary. He has over 10 years experience giving advice to both individuals and companies in relation to their finances. He can be contacted on
eoin@prosperous.ie, 045 841 738 or 087 644 5533.
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