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Case study

Protection

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Paul (aged 42) and Caroline (aged 39) – Married
Occupation: Business Owners

Family: 2 children (ages 4 & 7)

€400,000

Home

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€120,000

Pensions

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€20,000

Cash

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€10,000

Shares

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Challenges

  1. Paul and Caroline wished to understand what level of protection benefits they would require to ensure their family’s lifestyle can be protected in the event of a catastrophe.

  2. They wished to consider a course of action that balances affordability with the need for adequate protection.

  3. They wished to ensure benefits continue for at least the years of children’s dependence.

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Solutions

  1. After reviewing their circumstances, we provided a detailed report & recommendations outlining the most appropriate course of action.

  2. We recommended a lump sum benefit to provide for a rainy-day fund, funeral expenses, start in life gift for children and to allow short term debts to be cleared in the event of a catastrophe.

  3. Within our recommendations, we priced different options taking account of affordability.

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Results

  1. They gained peace of mind in knowing that their family’s lifestyle was protected.

  2. They now understand why a specific level of benefits is required.

  3. They understand how the protection is structured from an estate planning perspective to ensure timely payment of benefits.

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