"There are worse things in life than death. Have you ever spent an evening with an Insurance Salesman ?" Woody Allen | Jameson Financial

"There are worse things in life than death. Have you ever spent an evening with an Insurance Salesman ?" Woody Allen

For most of us our financial circumstances, and by extension, our financial needs and objectives are forever changing. It is essential therefore, to have a regular financial review.

Here are a few pointers;

  • Reappraise your financial needs and objectives; They're probably different to the ones you had five years ago.
  • Check your levels of Life Cover. If your children are young you may need more than just the Mortgage Protection policy which the bank insisted on.
  • Check your levels of Life Cover. If your children are reared you may not need so much cover; consider diverting some of these premiums towards a higher level Health Insurance plan.
  • If you have a lump sum investment which has had a significant exposure to stock markets in recent years you are probably doing pretty well. Consider taking some money 'off the table' and switching to a safer haven. Dark clouds are gathering and, despite their upbeat discourse, most financial analysts haven't a clue where the markets will be in a year's time.
  • The Irish economy is generally improving and some people seem to have more disposable income. If you haven't taken out a Pension Plan, consider starting one - even for a small monthly amount. if you have a Pension Plan check it's values and projections; you may need to increase your monthly premium.
  • If your net estate is worth more than €225,000 consider taking out a section 72 policy - the proceeds of which can be used to pay inheritance tax. While you're blissfully reposing in a country churchyard your loved ones might be having sleepless nights over unexpected tax bills. 
  • Make a Will. Although you're probably reluctanct to contemplate death, a Will is the most effective way of providing for your loved ones when you are gone.

We promise that BareNakedCover's financial reviews will not take all evening. No, definitely not worse than death.