Zurich Life 3 NEW Fixed Rate Deposit Funds

Zurich Life is delighted to announce the launch of 3 NEW Fixed Rate Deposit Funds to compliment their suite of existing cash and secure options. For a limited time - until 27th August 2012 (or earlier if fully subscribed) - Zurich Life is offering a range of Fixed Rate Deposit Options for you to choose. 1 year option with KBC Bank Ireland plc paying 3.95% AER* 3 year option with EBS Limited paying 4.00% AER* 5 year option with EBS Limited paying 4.70% AER* These three new Fixed Rate Deposit Funds are available to new and existing single premium pensions including top-ups. Please click here for all details on these attractive options. These funds are only suitable for clients wanting to remain invested in the fund up to the maturity date. It will not be possible to switch, encash or partially encash from the funds before the maturity date. However, it will be possible to partially encash or make regular withdrawls of up to 5% per annum on ARF and AMRF policies on the 30th November each year. Withdrawals from AMRFs are subject to Revenue restrictions.

The new Fixed Rate Deposit Funds are only available for a limited time, until 27th August 2012 (or earlier if fully subscribed) - so don't delay, contact us today on 053 9146592. *AER refers to the Annual Equivalent Rate.

IMPACTS OF GENDER NEUTRAL PRICING ON THE LIFE INSURANCE INDUSTRY FROM 21st DECEMBER 2012

Life Insurance Pricing
Typically, Life Insurers currently use 3 main rating factors for calculating life insurance premium rates - age, gender, and wether or not the individual smokes. For over 80% of customers, the premium rate will be calculated based on this information only. The health of the individual is only taken account of in a small minority of cases, with a loading to standard rates applied if the underwriter determines that the individual has a lower than average life expentancy. This may be due to the individual's medical history, occupation, family history or ill-health etc.

For smokers, the cost of life insurance can be more than double the cost for non-smokers. This reflects the fact that smoking shortens average life expectancy by up to 10 years.

For females, the cost of life insurance is typically 25-30% less than the cost for males. Throughout history, females have tended to live longer than males, and, currently, females live on average about 5 years longer than males. The reasons for this are not completely clear - it has been speculated that this is due primarily to lifestyle and occupation factors, rather than genetic factors. For example, males tend to drink more alcohol than females and also tend to have poorer quality diets. Both of these factors will tend to result in females living longer. In addition, males tend to have much higher rates of suicide than females and are much more likely to die as a result of a road traffic accident.

However, there is also some evidence that females are genetically  more likely to live longer. Females have higher life expectancy in all countries in the world, and longer female life expectancy is also found in most animal species. The gap between female and male life expectancy has been gradually declining in recent years, presumably as a result of female and male occupations, and lifestyles, becoming more similar.
Whatever the exact breakdown of the different factors which go into explaining the gap between female and male life expectancy, life insurers have found gender to be a very useful proxy for the various risk factors involved. From 21st December, this approach will no longer be possible.

Initially, it is likely that life insurers will simply calculate new premium rates based on the expected mix of males and females in their portfolio of business, using the existing separate premium rates which they have for males and females as a base. There will be some uncertainty about the mix of new business between males and females, and therefore insurers are likely to take a somewhat conservative view on business mix to beging with.

This will result in males paying a similar rate to current rates for life insurance, and females paying significantly more (30% to 50% more, depending on age). So, for females needing life insurance cover, now is time to buy!

Income Protection Pricing
For Income Protection products, insurers use a somewhat more sophisticated pricing approach, taking account of occupation class in addition  to the usual factors of age, sex and smoker status. Occupations which are office based typically pay a lot less than occupations involving significant manual work. For some occupations, insurers do not provide income protection cover because of the high risk of injury or disability.
All other rating factors being equal, females are currently charged 50-60% more for Income Protection cover compared to males. In setting a gender-neutral price, insurers will take account of the expected mix of business, in the same way as on other product lines. This is likely to result in a rate which is closer to the current male rate than to the female rate, because insurers will not expect a major change to their mix of business. Therefore, females requiring income protection cover might be well advised to review their cover, and the price they are paying for it, after the introduction of gender neutral rates on 21st December 2012.

Impact on existing business
Life insurance contracts are typically written on a long-term basis. The Test-Achats judgement does not impact the premium rates which Life Insurers can charge on existing contracts, even where gender has been taken account of in calculating those rates. This means that clients with existing contracts need not worry that their premium rates could be increased as a result of the introduction of gender neutral pricing. However, life insurers need to be aware that any changes made to an existing policy, which are not part of the original terms and conditions, may result in a need to apply gender neutral pricing to the policy.

Conclusion
Gender-neutral pricing is the most significant change to the pricing of life insurance products in Ireland which we have seen in the last 10 years. The impact of gender-neutral pricing will vary depending on the product line, and insurers are likely to take a prudent view on calculating gender-neutral rates until the market settles down. Over time, life insurers may look to develop more sophisticated pricing approaches and the introduction of gender-neutral pricing may be a spur for greater product innovation.

If you are a female and you are thinking to take a life cover or you already have one, do not hesitate to contact us to review your premium rates or benefit of the advantages before the gender-neutral pricing takes place from 21st December 2012.

New Cancer Cover with Zurich Life!!!

NEW CANCER COVER AVAILABLE WITH ZURICH LIFE!

Zurich Life is offering a new protection solution for you and your family, CANCER COVER is now available on the Guaranteed Term Protection policies.

This benefit pays a lump sum on diagnosis of Cancer at significantly lower cost alternative to full Serious Illness Cover.

CANCER IN IRELAND....The reality of the disease

Cancer was principle cause of death claims in 2011. According to the Irish Cancer Society (April 2011), only in Ireland, there are 30,000 new cases every year but will rise to 40,000 by 2020.  The National Cancer Registry Ireland 2010 foresee that only 50% of people who get cancer will survive for more than 5 years.

But how does survival look like?....The financial reality

A 60% of cancer sufferers experience an increase in household bills, medical costs and travel expenses normally followed by a reduction of earnings. Now CANCER COVER or Serious Illness Cover can give you the breathing space you need in case you are diagnosed with Cancer. 

Cancer Cover vs Serious Illness Cover

Protecting your family is one of the most important financial decisions you can make. It means your family could get a lump sum or a regular income if you die, become seriously ill or are unable to work because of an illness or injury. This will help to maintain their standard of living and make sure that your children could have all of the opportunities you'd love them to have, such as going to university.

If you find this Cancer cover interesting or want to review your existing cover, do not hesitate to contact any of our advisors on 053 9146592 and get you and your family protected today!

Neiland Financial Services Ltd, Carrig House, Roche's Road, Wexford - T: 053 9146592 | F: 053 9152090 | W: www.nfs.ie

Neiland Financial Services Limited T/A Neiland Financial Services and Ace Mortgage Solutions is regulated by the Central Bank of Ireland.
Directors: Kenneth Neiland & Margaret Neiland Registered information: Company No. 440364 Registered Office: Carrig House Roche’s Road Wexford.

New code promises safer navigation in financial sector

New code promises safer navigation in financial sector

Two months cash back - up to €1,000 for all new protection plans!!!!

Start a LIfe Cover plan and get €50 cash back or more!

Closing 02 March 2012!

 

If you earn an income, own a home, have a family, a business or an investment property then you probably need to protect yourself and your family against the financial impact of ill-health or death. We all need to protect what's important to us.


With a Life Cover plan you can relax knowing your family could be looked after in the future. Now Irish Life and New Ireland would like to give you a helping hand to get you started!! Apply for any new Life Cover plans before 02 March 2012, then start the plan on or before 27 April 2012. You will get your first two months payments back!!! Don't miss this opportunity to give you and your family some peace of mind!

How the cash back offer works

They will pay you two month's payments back with a minimum cash back payment of €50 and a maximum of €1,000.

So if for example your monthly payments are €550, after your second monthly payment is made, they will give you €1,000 cash back. And, even if your monthly payments are €15, after your second payment is made, they will still give you back €50! Once you make your second plan payment, they will issue your cash back within 60 working days of this payment.

To avail of this offer

This offer is open to all New LIfe Cover applications (Life Term Cover, Mortgage Cover, Life-Long Cover, Pension Life Cover, 50+ Life Cover and Income Protection) received between 16 January 2012 and 02 March 2012 inclusive. It's limited to one plan per person and one cash back payment on each plan. When you have paid your first two months payments into your plan on time, you will get your two months cash back.

This offer is only available if:

• your application is received between 16 January and 02 March 2012 inclusive
• your plan is accepted and starts by 27 April 2012
• you are not replacing an existing Irish Life or New Ireland plan to avail of this offer.

Remember, you must keep up your payments to maintain your cover. Acceptance and Terms and Conditions apply.

Contact us for more information about this offer on 053 9146592.

We are happy to help you to protect you and your family against the financial impact of ill-health or death.

Your peace of mind....our guarantee to you! 

Bloxham Low Risk Funds

1. Conservative Income & Growth Fund

­Will the Euro survive?  Probably, although last week’s emergency summit seems to have caused more angst than relief.  Certainly the probability of some dislocation of our currency remains uncomfortably high.  Hence the continued large inflows by worried investors into our new Conservative Income & Growth Fund, which invests in ‘hardcore’ Euro, US Dollar and Sterling short-term sovereign bonds plus a small exposure to Swiss defensive stocks Nestle and Novartis.  This Fund gives investors ‘peace of mind’ and protection against a possible breakup of the Euro.  The Fund’s current mix is 89% bonds, 5% global equities and 6% cash, the breakdown is displayed below:

 
 

2. Midas Absolute Return Fund

According to the FT, hedge funds are set to rack up their second worst year in two decades after misreading the Eurozone crisis and slowing global growth.  According to Hedge Fund Research the average hedge fund was down 4.4% in the year to end November, losing money in six of the past seven months.  Only in 2008 has the industry fared worse.  Famous hedge fund managers such as Paulson, Highbridge, Landsdowne and Odey have failed to recover double digit percentage losses for some of their funds.

Meanwhile, our Absolute Return Fund Midas had yet another positive month in November, up 2%.  This brings the year-to-date performance to end November to +11%, easily outperforming the main Absolute Return Funds available in Ireland.

Source: Financial Express

In fact, it would appear Midas is now the No. 1 Absolute Return Fund in the UK and Ireland in 2011, outperforming over 130 such funds.

3. Defensive High Yield Fund

­Finally, the new Bloxham Defensive High Yield Fund continues to ‘do what it says on the tin’.  i.e. mirror the strong equity returns this quarter but with far less volatility (around 50% of the volatility of the FTSE World) and far more sleep for you!, with the Fund’s protection cushioning it from poor days but allowing participation in good days.

Irish Life DUAL RETURN BOND 1 - Great Investment Option for the cautious investor.

Don't miss this great investment option from Irish Life!

Closing date: 23 December 2011

Over the long term, investing in shares can consistenly give you the best rewards. Anyone can invest directly in sotck markets. However, buying and selling shares can be expensive and you need a lot of time an money to invest in more than just a handful of shares. You will also know that shares can fall in value, sometimes by large amounts, and this risk may put people off investing in shares.

This is where Dual Return Bond 1 could provide the solution for you! This product is designed to protect your investment. Plus, you also have access to the potential growth of the EURO STOXX 50 index - Europe's leading index for the Eurozone.

Dual Return Bond 1 is an investment plan with a fixed term of 4 years and 11 months.

This product could be suitable if you:

* want to invest for 4 years and 11 months and are also looking to get back some of your investment after 12 months;

* have at least €10,000 to invest;

* are 80 or younger (next birthday);

* do not need to make regular withdrawals;

* want an investment that protects your money.

Dual Return Bond 1 has two parts:

Contact us for more information about this product on 053 9146592 or info@nfs.ie