Long term renters urged to look at protection similar to mortgage holders

Long-term renters should look at ways in which they can financially protect themselves, similar to mortgage holders, a leading insurance company has said.

With rents across the country now 8pc higher on average than their Celtic Tiger peak in 2008, Royal London has urged renters to consider protection against illness and death.

In Dublin, rents are an average of 13.7pc higher than in 2008, according to the Daft.ie rental price report 2016, while data from the 2016 Census shows that there were 469,671 households in rented accommodation in 2016, an increase of nearly 5pc from 2011.

“The profile of ‘renters’ in this country has changed significantly. Traditionally the renting group in Ireland was single people in their 20s and early 30s”, Joe Charles head of proposition at Royal London said.

“Now a growing cohort of families and individuals in their 30s, 40s and 50s are renting at a time when financial security and protection becomes more important as they grow older, settle down, and especially if they have children to look after,” he continued.

Read more: Comment: It’s time to stop faffing about and start treating this housing crisis like the emergency that it really is

The company is advising long-term renters to review their financial capabilities and consider putting their own form of ‘rent protection’ in place, by taking out life insurance policies. They say a good comparable example is when people put mortgage protection cover in place.

“Those who are renting long-term should consider doing something similar to those with a mortgage, and put life and/or specified serious illness cover in place, to ensure their rent and other ongoing expenses will continue to be paid for their family should anything happen to them”, Mr Charles said.

Population of Co Louth surges to highest level in recorded history

The population of Co Louth increased by almost 6,000 between April 2011 and April 2016 to 128,884.

That’s according to new Census figures released by the CSO today which show a 4.87% rise in the population of the county over the five year period.

This was greater than the 3.8% national growth, with the country’s population now standing at 4,761,865.

There were 63,633 males in the county in April last year, up 4.72% from 60,763 five years earlier while the number of females in Louth jumped by 5% from 62,134 in 2011 to 65,251 in April 2016.

The population of the county is now at its highest since records began, overtaking the 128,240 registered as living in Louth before the Great Famine in the first Census in 1841.

The average age was 36.4 years compared to 35.2 five years earlier. This was below the national average of 37.4.

There were also 771 Travellers registered in Louth last April, an increase of 16.3% on April 2011.

In relation to marriages, the numbers wed rose by 4.1% from 43,848 to 45,663. It was also revealed that there had been 122 same-sex civil partnerships in Louth as of April 2016.

Meanwhile, the number of people separated and divorced in the county also rose. The number of people separated jumped by 5.5% to 3,811 while the divorce figure was up 17% from 2,539 to 2,971.

On an electoral level, the population increase means there are 150,924 within the Louth/East Meath area. This is a 5.3% increase from 143,272 in 2011 and means there are is now one TD per 30,185 of population.

Check out figures and data at http://talkofthetown.ie/population-of-co-louth-surges-to-highest-level-in-recorded-history/#