The Accumulator
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Indeed, not very far at all! But EUR 200,000 plus the EUR 328,000 from my employer would provide better protection.If I was in your position, the situation I would be worried about is if the primary earner suffers an illness or accident and is left unable to work for years\rest of life.
You should check the small print of your policy to see exactly what is meant by "full and partial disability." It sounds like critical\specified illness cover and these can be quite hard to claim against (at least that is the perception).
Also, if something serious, but non-fatal, happens to you at age 35 or 40, how far would €200,000 go?
You're dead right. However, getting such a policy from the Middle East is a nightmare. If you know anyone still in Ireland planning to move out here, do them a favor and tell them to take out their policies before flying out.I would prefer to have an Income Protection Policy, that would pay out e.g. 60%-75% of your income, if you suffer an accident or illness and are left unable to work in your chosen occupation.
That way, if something happens at 40, it will continue to pay out until you are 65.
If you take out an Income Protection Policy, look for one where the premiums are not reviewable e.g. the company cannot increase the premium.
You may have issues obtaining such a policy in Ireland that will cover you while in the Gulf however.
Indeed, not very far at all! But EUR 200,000 plus the EUR 328,000 from my employer would provide better protection.
Hi, just a point to note, the Eur328,000 is that not a life assurance that your employer has, or does it cover serious illness/disability? If it's life only then in the case of a serious but non-fatal incident, you would just have the Eur200k.
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