Having kids later in life could prove costly for parents over 50
Life insurance is generally aimed at parents of young children or the sole or primary income earner in a family. If that person dies, a life policy will pay out a lump sum to any dependents that will help towards financially supporting them or perhaps if there are loans or other debts left behind they could not be reasonably expected to pay off.
To read more of this interesting article from John Cradden at Independent.ie: http://www.independent.ie/business/personal-finance/life-insurance-its-life-or-debt-for-generation-x-30777377.html
Having Children Older Can Be More Costly Than You Think
In recent years, the average age an Irish person, has their first child has gone up and is now 32, our parents generation could have finished having babies by the time we have even started and this means some forms of life cover can now be more expensive. When thinking about taking out life cover, take into account how old your children will be when it is due to end. If you have a child at 40, it is quite likely they will still be in college when you are 60 and could still need your support.
To find out how MC Financial can advise you to choose the right life cover for you, talk to Rob, our Life Insurance expert today by calling 01 822 8022 or by emailing email@example.com.