Stakelum Financial Services

05/11/2021

Income protection

1. Employers Sickness Plan
2. Deferred Period
3. Entitled to Social Welfare Illness Benefit
3. Allowed cover up to 75% of your Income

So hopefully armed with the above information you are in a better place when you enquire about Income Protection.

04/11/2021

Income Protection.

What amount should I cover ?

You can cover up to 75% of your earnings less the personal rate of the State Social Welfare Illness Benefit.

When deciding your level of Income Protection make sure first that you are entitled to the Social Welfare Illness Benefit.

When you have that information then decide on your level of cover.

02/11/2021

Income Protection

So now we have figured out how long we will get paid or not by your company if out sick through Illness or Injury

For example we will say your company will pay you for 3 months so you start your income protection policy from the 13 week or
if you will not get any sick pay how long can your savings last if any before they run out.

The reason I mention the above is the longer you can survive before drawing down your Income protection policy the cheaper the premium will be.

This is know as the Deferred Period probably the most important decision of an Income Protection Policy

It can be 4 weeks, 8 weeks, 13 Weeks, 26 weeks or 52 Weeks

01/11/2021

Income Protection for employed People

Firstly you need to find out the following.

1. If your out of work through Illness or Injury are you entitled to Sick pay
2. If so what % of your salary they will pay
3. If so how long will they pay your salary for.

This is the starting base for an Income Protection Policy.

22/10/2021

Did you Know there was a Policy out there that would help your children with any Inheritance Tax Liability they may incur from you.

A Section 72 (Whole of Life) policy is a Life Insurance Policy set up by a parent under trust for their children. The proceeds of the policy are exempt from Inheritance Tax provided that they are used to pay the Inheritance Tax liability on the benefits received on death of the insured. The effect is that your children inherit their estate without having to pay Inheritance Tax yet the Revenue will receive the tax that was incurred on the passing of your estate to your children. A Section 72 policy offers this through the Guaranteed Whole of Life policy, where the premiums are guaranteed not to change for the duration of the plan.

14/10/2021

With the tax deadlines coming up fast, you only have weeks left to make the most of your tax relief for top ups on your pension for 2020

If you have any queries or need any help please don't hesitate to call (0868586842) or email me on [email protected]

16/04/2021

We just posted this article on ClubZap. Follow the link and download the app for realtime updates from Castlebar Mitchels Hurling Club

05/03/2021

26/02/2021

20/02/2021

Our February Lotto winners who along with winning a €100 each will all be spinning the wheel next Friday for €3400

11/02/2021

Our January Lotto Spin the Wheel takes place tomorrow Friday at 12noon. Best wishes to our January winners who all won a €100 and a chance to Spin The Wheel for €3300

08/12/2020

Predict the Final Score of the All Ireland Hurling Final on Sunday Go to Castlebarmitchelshurling.com and click lotto.