Help. No clue what to do with cash.

if you break you arm in Limerick, do you want to go to the local A&E or into the VHI 24 hr clinic
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If you break your arm and go to vhi 24hr they will xray to confirm its broke and send you to a&e.
 
thedaddyman said:
if you break you arm in Limerick, do you want to go to the local A&E or into the VHI 24 hr clinic?
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Go into whatever private clinic there is and pay your own bills.

That might be a Dublin centric point of view because we have plenty of A&Es not linked to health insurance companies.

Not sure about Limerick. Can you not pay for a private A&E?

Brendan
 
Have had ill health for the last decade so will need to keep the health insurance purely as stated above from an access point of view, and speediness. If I leave it now I won’t get the benefits elsewhere and I wouldn’t get taken on elsewhere again if I needed it with my history, I was also thinking to keep the life insurance as it’s a decent policy and I’ve paid into it for about 20 years now and only about 6 euro a week after tax relief. My thinking on it would be that the lump sum may go toward inheritance tax particularly as it’s quite a significant sum if I pass away under 60 and I’ll never put even a tiny percentage of what it’s worth into it. I’d be mad to pull the plug on it. And again wouldn’t get cover again with my health. I’m just fortunate I signed up for both a long time ago.

I do like the bucket list idea though of the big events. I will leave enough behind me in Life Assurance and the House alone that I may as well enjoy some of the money as I can’t take it with me

I will look into all the suggestions above

Thanks everyone.
 
Really sorry to hear about your ill health. Given that you are cash rich explore a better health insurance policy, (there will be waiting periods) and see from your consultants what other treatments could you consider if you had to pay yourself.

best of luck in the future, and enjoy life.
 
XXGCXX said:
Have had ill health for the last decade so will need to keep the health insurance purely as stated above from an access point of view, and speediness. If I leave it now I won’t get the benefits elsewhere and I wouldn’t get taken on elsewhere again if I needed it with my history, I was also thinking to keep the life insurance as it’s a decent policy and I’ve paid into it for about 20 years now and only about 6 euro a week after tax relief. My thinking on it would be that the lump sum may go toward inheritance tax particularly as it’s quite a significant sum if I pass away under 60 and I’ll never put even a tiny percentage of what it’s worth into it. I’d be mad to pull the plug on it. And again wouldn’t get cover again with my health. I’m just fortunate I signed up for both a long time ago.
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As a member of the public sector and therefore the public sector pension scheme, you aren't eligible to claim tax relief on life cover plan. You may have a self employed term assurance plan. While you can keep the plan in place, you cannot claim the tax relief.

Steven
www.bluewaterfp.ie
 
thedaddyman said:
Life assurance- It all depends on what you want to leave your family bit it wouldn't be needed for the house.

As for health insurance, it's less about money and more about access. In other words, if you break you arm in Limerick, do you want to go to the local A&E or into the VHI 24 hr clinic?
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I've gone to VHI clinics without being a VHI member.
 
If the OP is in ill-health then health insurance and life insurance are both great value, irrespective of whether she is wealthy or not.

Brendan
 
Is there anyone else in your life you could help with your money that would give you joy to see them enjoy it? Eg parents or elderly relatives, could you do works to make their home more comfortable, could you do similar at your son's current home? Charities? You could well afford a career break to explore a volunteering opportunity? Or set up a business to try out something that was on your mind but wouldn't maybe have paid the bills but now you could fund it? Set up a fund for something like a scholarship for a couple of years for a field of study etc.
 
XXGCXX said:
Have had ill health for the last decade so will need to keep the health insurance purely as stated above from an access point of view, and speediness. If I leave it now I won’t get the benefits elsewhere and I wouldn’t get taken on elsewhere again if I needed it with my history, I was also thinking to keep the life insurance as it’s a decent policy and I’ve paid into it for about 20 years now and only about 6 euro a week after tax relief. My thinking on it would be that the lump sum may go toward inheritance tax particularly as it’s quite a significant sum if I pass away under 60 and I’ll never put even a tiny percentage of what it’s worth into it. I’d be mad to pull the plug on it. And again wouldn’t get cover again with my health. I’m just fortunate I signed up for both a long time ago.

I do like the bucket list idea though of the big events. I will leave enough behind me in Life Assurance and the House alone that I may as well enjoy some of the money as I can’t take it with me

I will look into all the suggestions above

Thanks everyone.
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Have a look at your insurance policy to see if it has a conversion clause? This is very valuable after suffering ill health for future cover. If you were to buy a property jointly with your child it will pass through survivorship and not be included in probate.
 
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