Whether you’ve just had your first child or already have a young family, you’ll know that becoming a mum or dad changes your life. Your days are busier and your income has to stretch further. Like many busy parents you may take your own health for granted while looking after your little ones, but more than most you need to be prepared for the unexpected.

You probably have mortgage protection to clear your mortgage and secure your home, but have you thought about how your family would cope with all the other outgoings each month if you got seriously ill or died prematurely?

What is a family protection plan?

A family protection plan can be used to protect you and your family from the financial uncertainty and hardship that comes with unexpected illness or death. For a very small proportion of your income, you can put a financial protection plan in place to ensure you and your family would have the money needed if these unfortunate events should happen to you.

Life Choice You & Family- gives you real peace of mind

Life Choice You & Family is New Ireland’s family protection plan. It’s second to none in terms of flexibility and value for money. Unlike most protection plans you can apply to increase and decrease your cover amount, extend or reduce the term of cover and add or remove benefits as you move through life to meet your changing needs. Life Choice You & Family can be used to:

• Clear any loans or debts ensuring your family’s immediate finances are healthy
• Pay a monthly income in the event of illness or death to meet outgoings and / or maintain your family’s current lifestyle
• Pay a monthly income to your family if a stay at home parent dies to meet the additional expenses your family would face (such as childcare)
• Pay a lump sum amount in the event that you suffer a serious illness, providing you with financial breathing space and allowing your family to maintain their current lifestyle
• Pay a lump sum amount on death to cover funeral expenses and other related costs

You can even add one or more benefits to protect yourself financially in the short-term in the event of:

• A stay in hospital (for more than 3 nights)
• An accident which leaves you unable to work (for more than 2 weeks)
• Suffering one of a number of broken bones
• Undergoing one of a number of surgeries

You can’t predict the future but you can plan for it

While we all hope and often believe it won’t happen to us, the reality is that people throughout Ireland are affected by unexpected illness and premature death every day.

Each year, the Claims Department sees the serious life changing and personal challenges that our customers have to face, along with the real value of having a relevant protection plan in place.

For a look at a summary of protection claims paid last year please have a look at our Claim Statistics 2021.

For a further look at the benefits of having a protection plan in place read our Life Choice – Financial Protection Overview (Summary). For a more detailed look at the cover available, please read our Life Choice – Financial Protection Brochure. Alternatively, you can contact a Financial Advisor.