peanuthead
Registered User
- Messages
- 5
The rep you were talking to - quite a lot of your first year's contribution will be in his commission cheque at christmas. He's probably a nice guy, but he is well paid to sell you their products, and there are better options available to you. Cornmarket's name is mud around here - I suspect that there are much better options available.something about how, for the first year they frontload the admin fees
That's not correct. Pensions get tax relief at about 40%, so sacrificing €60 of take-home pay will get you about €100 worth of pension investments. This applies to any kind of pension, not just this company's AVCs.The basic info I got was that it's saving money at high interest - 40%.
That's going to changeTo be honest, I try my best, but I really don't understand finances etc.
No. I believe you have a cooling off period where you are entitled to a 100% refund of anything you have paid (or comitted to). That period may be short, so I'd get on it today.Also, is it too late now that I have signed up with cornmarket?
Worst case scenario: you stop contributing to the cornarket avc, and write off whatever you have given them so far. You can always set up a PRSA somewhere else.Do I just have to stay with them? Or can I freeze that one and start again with a different company?
4.Avoid (like the plague) salary protection type policies, unless you can get a competent independent advisor to advise you.
Worst case scenario: you stop contributing to the cornarket avc, and write off whatever you have given them so far. You can always set up a PRSA somewhere else.
It's a great idea in principle - for most of us, our ability to work is our biggest asset, so insuring it makes sense. I suspect the reservation is that some of the products in this domain are useless: full of fine print to the point where it's almost impossible to make a successful claim. These policies aren't cheap - I'd want to be really sure that it offers value and that it'll actually pay up if I need it.
Why do say this ?
For the past few month I’ve been doing my research on "income protection vs critical illness" cover. I'm very close to taking out a small income protection policy.. I was of the opinion that they are very good type of insurance against any illness that might render me unable to work between now(age 40) and retirement age. Plus you get tax relief on the premium at the marginal rate.
Are we talking about the same thing ?
ORBIT.It's a great idea in principle - for most of us, our ability to work is our biggest asset, so insuring it makes sense. I suspect the reservation is that some of the products in this domain are useless: full of fine print to the point where it's almost impossible to make a successful claim. These policies aren't cheap - I'd want to be really sure that it offers value and that it'll actually pay up if I need it.
Irish Life would not pay out
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