Protecting your family and business

Life can be unpredictable. Having a plan is critical. We can help you protect yourself and your family against financial problems that follow serious illness or death.
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Protecting your loved ones in the event of untimely death or serious illness

How would you or your loved ones cope in the event of an untimely death or serious illness? Protecting what matters most is key. Our team is here to help you understand the financial impact this would have and protect against the financial problems that follow. Having the correct policy in place is important, and identifying what cover meets your needs is the first step. Each insurance policy provides a certain level and type of cover.

Personal protection insurance policies

Sometimes life throws us a curveball. You can’t control this but knowing your family is protected should the unexpected happen will give you great peace of mind. At Mercer, our protection team offers expert advice and guidance on a range of personal protection insurance products and services, including mortgage protection, family protection, specified serious illness cover and income protection.

  • Life insurance

    Term assurance is a policy that provides your dependents or your estate with a lump sum on your death within a specified period; that is, the term of the policy. There are many different elements you need to take into consideration when taking out a life policy; for example, the term, the amount payable on death and how much it will cost you. Additional factors to consider include guaranteed premiums, indexation and conversion options.

  • Serious illness cover

    Serious or critical illness cover provides you with a lump sum should you become diagnosed with a specified or critical illness as defined in the terms and conditions of the policy. Most life companies’ specified illnesses are similar, but some offer a wider range of illnesses. It is important to ensure that you have a policy that meets your needs in terms of budget and benefit and to understand the type and level of cover you have.

  • Mortgage and business protection

    Mortgage protection is a policy that essentially pays off the balance of your mortgage in the event of your untimely death. These days, it is quite difficult to get a mortgage without some form of protection in place.

  • Income protection

    If you are employed or self-employed, have you considered the prospect of long-term sickness and what will happen when you are no longer receiving a regular or reduced income? Income protection provides you with peace of mind in this situation. Protect yourself and your dependents by plugging the gap in the event of a long-term illness.

Protecting your business

Many problems and complications arise for a business when a partner or key employee dies or becomes seriously ill. It makes sense to protect against the loss of certain key members of your business. The chances of a partner or director in a business dying or becoming seriously ill before retirement are a lot higher than you might think. The lack of credit available to small businesses could result in surviving business owners having insufficient funds to purchase a deceased owner’s share of the business or, in some instances, getting into financial difficulty because of a key employee’s death.

You can’t predict tomorrow, but you can plan for it. Our team is here to help you understand the impact of such an event and tailor a package from a range of life insurance plans to meet your business’s needs, including plans for employees, directors, partners and group risk schemes.

We’re here to help. Our team will tailor a plan specific to you and your loved one’s needs and budget. We can also work with you to help ensure you and your company are protected if the unexpected happens with a plan tailored to you and your firm’s needs and budget. 
Caitriona MacGuinness

DC and Private Wealth Leader for Mercer Ireland

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Business protection insights

Business protection insurance policies

As part of any business continuity plan, the death, critical illness or permanent disability of a key shareholder or key person needs careful consideration. Mercer’s team provides specialist advice and insurance solutions to protect your business’s critical human assets, its people. We will work with you to determine the appropriate amount of business shareholder and/or key person insurance required. This includes conducting an unbiased assessment of a broad range of competitive insurance providers and streamlining the application process. This will allow you to concentrate on the important task of running your business.

  • Key person insurance

    Key person insurance safeguards your business in the event of the death of a key employee and maintains your company’s continued financial stability in the future. A key person is anyone who the company depends on for its continued success — anyone whose specialised skills, reputation and contacts are critical to the business and whose death would have serious consequences for the profitability of the company.

  • Partnership insurance

    The untimely death of a partner in a firm can have serious financial implications for the continuing partners. Partnership insurance provides the funds to enable the continuing partners to buy out the share of a partner upon that partner’s death.

  • Co-director insurance

    If one of the shareholders in your company died, what would happen to your company? Both the company and the next of kin may be faced with a number of challenges, such as a new shareholder and loss of control.

    Co-director insurance provides the surviving directors with funds to buy back the deceased’s shares and afford certainty of ownership.

Start preparing for your financial future today

Making more informed decisions can result in brighter outcomes for you and your loved ones, leading to greater security, new opportunities and more financial freedom.

  • Retirement planning

    Planning your financial future can be a daunting task. Mercer can help you navigate your journey towards your long-term financial goals. We can help you take the necessary first steps on the path to a secure retirement.

  • Saving and investing

    Successful investment requires expert advice. Mercer will take the time to understand your needs and aspirations and help you explore a range of investment options to suit you. 

  • Estate and succession planning

    Mercer can provide advice to ensure you protect your wealth and leave a meaningful legacy for your family or support the causes and people who mean the most to you.

  • Private wealth

    Having a robust financial plan in place is the cornerstone to enjoying the life you want to live. Mercer Private Wealth will create a personalised lifetime financial plan that will help support you through life’s journey.

  • Financial planning

    We put your financial well-being and future security first. Our team of professionally qualified financial consultants works closely with you and your other professional advisers to ensure any investments and plans we may propose reflect your personal objectives.

  • Executive financial planning

    Everyone should have a plan for their financial future, but financial planning for senior executives can be particularly complex. Mercer can help by providing a comprehensive financial planning service.
Protect your family and your company
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plan for the unexpected!

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    FOOTNOTES

    Please click HERE for important regulatory and privacy information. Mercer (Ireland) Limited, trading as Mercer, is regulated by the Central Bank of Ireland.

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