Taxi’s, Savings plans and Life Insurance!

Gerard Coughlan
April 27th, 2012
by

Taxi’s, Savings plans and Life Insurance!

It was a wild evening last Wednesday and it cost me €18 in taxi fares, but it was just one of those evenings where you just really wanted to get into the warmth and out of the rain, it felt like €18 well spent when the door shut behind me. It was easy to imagine the origin of the saying “saving for a rainy day”. It was not a night for going back out!

The rainy day is on a lot of minds at the moment, as we are all too aware, anyone who is lucky enough to have money, is saving like we’re in a never ending storm. Let’s hope we’re not but that’s a discussion for another day! Right now we all want the peace of mind that both ourselves; and our families can keep the proverbial fire alight should our rainy day come. It makes sense.

But it got me to thinking, had I walked home, or more realistically got the bus, I’d have saved about €15. Say I saved this amount every month for 10 years, how would that help the nest egg? Well, in 10 years time, saving €15 a month, that would leave me with €1,800 plus whatever interest I can get, so I felt I need lots of €15’s to really make a difference but it did make me feel better about getting the taxi!!

There are many other uses for my €15 and I’m sure yours, but of course working in the industry, it did highlight the value in Life Insurance right now. For some like me, a 32 year old man, I could set up a life cover plan for the next 10 years with my €15 a month and this would ensure that my family would receive €196,317 should the worst come to the worst and I die in that time. It’s not a pleasant thought granted, but it’s a big figure and maybe worth being part of your rainy day planning?

So if you’ve got something specific you’re saving for then great, I say go for it, but if like me, you’re storing up a small bit extra for peace of mind, then €196,317 is a lot of peace of mind for €15. It might be worth thinking about this weekend.

Check out how much Life Insurance you can get for €15 a month.

Gerard Coughlan
April 27th, 2012
by

Comments are closed.

Your Comments

Irish Life Financial Services ltd. is regulated by the Central Bank of Ireland. Irish Life Assurance plc. is regulated by the Central Bank of Ireland.
Irish Life Financial Services ltd and Irish Life Assurance plc Registered Office – Lower Abbey Street, PO Box 129, Freepost, Dublin 1. Phone: 01 704 2000, E-mail: customerservice@irishlife.ie.
Irish Life Financial Services Registered Number 489221. Irish Life Assurance plc Registered Number 152576.