Old Irish Life plan

Hi all,

I am just looking at an old Irish Life plan for a family member. The plan predates Exit tax so they avoid that but there are a lot other fees and I am trying to understand if it is worth keeping. Their spouse is dying and they dont have the same income anymore. Aside from the important consideration of using the money when are alive, I want to advise them on the fees/return. I think it is about 35 years old. They are paying 350 euro a month but this sum is inflation adjusted. Now the current value is about 120,000. Is that a reasonable return?

It is impossible to calculate a return on the information you have given - you would need to know what the payments where from the start.
Also, there may well be protection and life assurance benefits on the policy so without a lot more info on what policy we are looking at, any further suggestion would just be a guess

Take it to a fee based financial advisor who will assess it for you and advise on what is best to do.

Steven Barrett who posts here might provide such a service.

https://www.bluewaterfp.ie/our-story/
Brendan

jpd said:

It is impossible to calculate a return on the information you have given - you would need to know what the payments where from the start.
Also, there may well be protection and life assurance benefits on the policy so without a lot more info on what policy we are looking at, any further suggestion would just be a guess

Click to expand...

Fair point. I dont kknow their formula but in 2014 the monthly fee was 185 and now is 350. Each payment is subject to a 1% gov levy.