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Worries & Concerns – We Can Help!

Jun 24

The OECD’s new cross-national survey, Risks-That-Matter, examines people’s perceptions of social and economic risks and their views on how well government reacts to their concerns. Here, we address two topics that are important from a financial advisory perspective.

Serious Illness:

According to the survey, 52% of the Irish list “becoming ill or disabled” as a top-three risk in the next year or two.

Serious Illness can be added to your life assurance cover. It is designed to pay a lump sum when you fall ill. It is important to realise, when you consider this type of cover, that it would not replace your income if you were out of work because of a long-term illness. This is because some illnesses may be serious enough to prevent you from working full-time but are not covered by serious illness policies. Even where the illness is covered, the policy pays a once-off lump sum and not an on-going income.

What Is Covered In A Typical Serious Illness Policy?

It can vary from company to company. Here are the most common illnesses :

  • stroke and heart attack
  • some types of cancer
  • coronary artery disease
  • multiple sclerosis
  • kidney failure
  • motor neuron disease
  • blindness
  • a benign brain tumor
  • severe burns


When looking beyond the next decade, pensions are by far the most common concern for Irish people. 70% of the Irish
list “financial security in old age” as a top three risk – in line with the cross-national average of 72% (Fig. 1). Social mobility,
too, is a major concern. 49% of Irish people worry that they will not do as well as their parents did in life, and 48% worry that their children will not do as well as they have.

Prepare for your retirement by investing in a pension plan tailored to your specific needs. Call us today on +353 23 884 2700

Kieran Hurley

Senior Financial Adviser & Head of Retail Sales


April 2024
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