Life, Pension & Investments

Contact our Life, Pension & Investments department for a quotation.

Mortgage Protection
Level Term Assurance
Convertible Term Assurance
Whole of Life Policy
Serious Illness
Keyman Insurance
Income Protection
Investment Bonds
Pensions

Travers & Co Insurances Ltd Financial Services Department offer independent advice in relation to a wide range of Life Assurance, Investment & Pension products.
We believe that the needs of each client are unique, and we pride ourselves in being able to offer financial service solutions specifically tailored to meet the needs of each individual.

Mortgage Protection
A Mortgage Protection Policy is a type of life assurance which is designed to repay a mortgage or loan in the event of death. We can arrange cover to suit Capital and Interest Mortgages where the sum assured reduces in line with the balance outstanding on your mortgage, Endowment or Pension backed mortgages where the sum assured remains level over the mortgage term.
Unlike the Banks and direct companies, we can provide a quotation and arrange cover with a variety of leading Insurers to ensure that you are getting the most comprehensive product based on your individual circumstances.

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Level Term Assurance
Level Term Assurance provides cover for a specific time frame, usually at a fixed monthly cost. Some policies allow cover to be indexed linked which means that cover will increase annually by usually 5% - 8%.
At the end of the term, the policy must cease and there are no further benefits. There is no surrender value with this type of product.

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Convertible Term Assurance
A Convertible Term Assurance Policy is similar to a level term plan in that the cover is chosen for a specific term, there is usually a fixed monthly payment and some can be indexed-linked to allow an annual increase in the level of cover.
Where it differs is that it allows further cover to be put in place without evidence of health, anytime up to the final day of the existing policy. This effectively gives the option of taking out another life assurance policy with no reference to health at that time. This cover costs approximately 10% more than the level term policy but it is worth paying the small extra for this valuable option.

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Whole of Life Policy
A Whole of Life Policy can provide cover to last throughout your life and there is usually a surrender value building up within the policy. Some contracts are reviewed after ten years and periodically thereafter to ensure that there is a sufficient premium being paid to maintain cover until the next scheduled review. Cover generally increases at each review.
There is also an option of purchasing a whole of life contract where there is no built-in review mechanism. This would allow the policyholder to have a sum insured in place forever at today’s prices. Whole of life is generally more expensive than the others outlined.

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Serious Illness
Serious illness insurance pays out a tax-free lump sum if you are diagnosed with one of the specific illnesses or disabilities that your policy covers. It is also sometimes called 'critical illness cover'. It can often be sold as an extra benefit on a life insurance or mortgage protection policy but also on a standalone basis.
You may want to consider serious illness insurance if:

You have no other cover for ill health
You are not in paid employment, so cannot buy income protection insurance
You have a mortgage, personal loans or other debts that you would still have to pay even if you became seriously ill and possibly unable to earn an income.

It is important to realise, when you consider this type of cover, that it would not replace your income if you were out of work because of a long-term illness. This is because some illnesses may be serious enough to prevent you from working full-time but are not covered by serious illness policies. Even where the illness is covered, the policy pays a once-off lump sum and not an ongoing income.

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Keyman Insurance
This is a life policy taken out by a company on the life of one of its employees or directors with a view to compensating the company for an anticipated financial loss in the event of the death of the individual covered. This policy can also provide a lump sum, paid in the event of the serious/critical illness of that key individual to ensure the continued survival of the business.

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Income Protection
An Income Protection Policy will provide you with an alternative income if you are unable to work due to illness, injury, accident or disability. If you are self employed the Government don’t provide you with an income if you are unable to work due to an illness or injury. If you are employed the minimum State Illness Benefit is paid (currently €185 per week for a single person) – would this be enough to pay your mortgage, household bills and maintain your lifestyle.
What are the benefits?

An income while you are out of work due to long term illness or an accident.
Tax relief on your premium.
Guaranteed Premiums available.
A proportionate income if you have to take a lower paid job after making a claim.
Hospital Benefit (if chosen) will be paid after you have spent seven days in hospital.
The benefit will pay the premiums on your behalf once you start a claim.
Premium and benefit increase by 3% pa to keep in line with your salary.
Option to increase by 20% every 3 years with no further medical evidence.

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Investment Bonds
We offer a wide range of investment opportunities for those seeking capital growth through investing in our investment Portfolio. The Investment Portfolio is a lump sum pooled investment which allows you access to a range of unit linked funds with a capital guarantee option available. Each of these funds has a different investment style which means you can tailor your investment to meet your Financial needs.
Type of Funds Available
A wide range of investment funds are available under different headings

Secure
Balanced
Progressive

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Pensions
Providing for retirement is a serious issue if the end of employment is not to be followed by a significant decline in living standards. The Irish Central Statistics Office estimates that a male aged 65 can expect to live a further 14 years while a female aged 65 can expect to live another 17 years.
Pension schemes provide a tax-efficient saving system to ensure that retirement income is above the breadline level. Unlike other tax allowances, the pension contribution is also exempt from PRSI. A recent survey of occupational and personal pensions found that only about half the workforce in Ireland have supplementary pension cover in addition to the State Pension.
There are 3 types of Pensions:

Personal pensions, which are designed for both self-employed people and for those in non-pensionable employment.
Occupational pensions, which are provided through employer-sponsored pension schemes.
State pensions provided under the Social Welfare system.

The longer you delay in starting a pension, the more that will have to be funded each month, to ensure an adequate income on retirement.

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Employment Practices Liability Insurance
This Insurance provides cover for claims brought by employees against the company or fellow employees

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Environmental Impartment Liability
This policy covers an insured 's liability resulting from pollution or alleged pollution.

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Travers & Co. Insurances Ltd is regulated by the Central Bank of Ireland.
Registered Office: 7 Upper Main Street, Arklow, Co. Wicklow. Registered in Ireland.
Company reg. no. 359022. A private company
limited by shares and having a share capital. Directors: Aaron Travers (Managing), Mervyn Travers.