Peavoy Financial Planning talks Protection for Renters

Peavoy Financial Planning talks Protection for Renters

Peace of mind and long term renting

The number of people living in rented accommodation continues to rise and it is now estimated that there is close to half a million homes that make up the private rented sector in Ireland. One of the consequences of the 2008 Financial Crash is that renting is now seen as the only viable longer term option, with many couples settling down and raising their families in rented homes.

While most of the media’s focus on “Generation Rent”, is on the rising cost of renting and the lack of suitable accommodation, in addition to these issues, there is another major concern that we often don’t talk about, which is family protection for renters. This is a very concerning situation that there seems to be a general lack of awareness and discussion about in the consumer market.

When we consider the position of those who rent, they are in a very vulnerable situation if the unimaginable happens. How would they cope if, they became ill and couldn’t pay their rent? Given the trend to long term renting, it is very important for renters to consider the need for protection, which can go along way to providing them with much-needed security.

We have seen the cost of Life Insurance reduce over the last number of years and it is particularly affordable and inexpensive for those individuals and couples in the 25 to 39 age group. At Peavoy Financial Planning we offer a wide range of solutions to aid renters in covering their financial needs. These include the following

  • Specified Illness Cover – This enables you to gain assistance at a time when you need it most. If your life changes and you have to stop work due to a specified serious illness diagnosis, this cover can provide you with a lump sum of financial support that can help you cover your expenses such as your rent and day to day living expenses.
  • Life Cover Arrangements – For your partners and/or dependents in the event of your death to ensure your partner/family is provided for.
  • Income Protection – Provides a replacement level of income should you be unable to work after illness or injury after a specific time period

A good Financial Broker will help you choose the right affordable solution for you. At Peavoy Financial Planning we have a very strong protection offering with very competitive pricing from five of the major insurance companies. If you have concerns about your situation please do make contact with us for a chat on 087-2902206 or alternatively by e-mail on  .

David Peavoy BA, QFA, LIAP is the Owner of Peavoy Financial Planning whose practice is based in Office 5b, Portlaoise Enterprise Centre, Clonminam Business Park, Portlaoise, Co Laois.

David Peavoy T/A Peavoy Financial Planning is regulated by the Central Bank of Ireland

Disclaimer: All data and information provided within this blog is for information purposes only. It should not be taken as specific advice for your situation. Peavoy Financial Planning makes no representations as to the accuracy, completeness, or suitability of any information and will not be liable for any errors, omissions or delays in this information or any losses, injuries or damages arising from its use


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