Understanding Money with Eoin McGee
Protection
Apr 3, 2024
Jackie, diagnosed with MS, shares her health and financial journey with income protection. They discuss the impact of insurance, managing symptoms, fear of nursing home placement, and building a solid financial foundation through long-term planning and insurance policies.
36:25
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Quick takeaways
- Life cover, illness cover, and income protection are crucial for financial stability during health crises.
- Insurance approval for income protection is complex, requiring expert advice and thorough medical documentation.
Deep dives
Differentiating Costs of Car Ownership vs. Gokar Usage
Owning a car can incur costs of around 10,691 euros yearly, while opting for a Gokar alternative amounts to approximately 3,600 euros, leading to potential savings of 7,000 euros per annum. The latter cost includes insurance, tax, maintenance, and fuel, making it a convenient and cost-effective choice, especially in urban areas like Dublin.
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