Reviewing your financial commitments is a quick and easy way to ensure you are getting the best value for your money while getting the cover you need. We at Allied Financial offer a comprehensive review without obligation on all of your financial commitments and best of all it is free of charge. Here are some of our top tips for 2014 for your financial health.
Review your policy once you receive your renewal notice as it is very difficult to move to a new provider once your new policy is in force as your current provider will impose a cancellation fee. Check the benefits on you policy, most of the private health insurance policies were sold on a price basis and not on the cover it offered, therefore getting rid of unwanted benefits will save you money, and finally do not be afraid to move to a new provider if you are getting better value for your money.
Review your life/mortgage insurance if you have not done so for a while, the cost of providing this type of cover has reduced quite significantly over the past few years. Have you stopped smoking? Have you the correct level of cover? Have you unwanted benefits? Are you getting tax relief on your premiums? Reviewing all these areas may save you money.
With DIRT tax and exit tax increasing to 41 per cent from January 1, coupled with falling interest rates, leaving your savings on deposit with your bank may actually lose you money when other factors are taken into account, now is the time to look for alternative options for some of your hard earned deposit funds.
Do you have a pension you are no longer able to pay into? If your answer is yes do not just leave it sitting there, this fund now has to work twice as hard for you, cutting out costly charges and fees will save you money and help increase the value of your investment.
For more information on any of these areas or to arrange your free financial review, contact Mark or Henry on 096-60044. Allied Financial is regulated by the Central Bank of Ireland.