Why would I need Income Protection in Ireland?

If you are unable to work in Ireland, the State Illness Benefit provides around €13,000 per year. Income protection helps bridge the gap between your salary and this benefit.

It covers essential living costs such as mortgage payments, bills, and daily expenses, giving you financial security.

Payments typically continue until you return to work or reach retirement age, depending on your policy terms.

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Who Needs Income Protection?

    • Have limited to no employer sick pay or are self-employed

    • Have monthly commitments like a mortgage, rent, or loans

    • Support a family or dependents

    • Want peace of mind that your lifestyle won’t suffer if ill

    • You can insure up to 75% of your salary

    • The policy can kick in from as soon as 4 weeks off work

    • The premiums you pay can receive up to 40% in income tax relief

    • Payments continue until you return to work or reach retirement age

    • No. Income Protection is a salary replacement, specified illness pays a once off lump sum.

    • Income Protection can last until retirement age, specified illness only provides an immediate financial relief.

    • Income Protection serves a specific purpose, as does specified illness.

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FAQs

  • Income protection payments begin after a deferral or waiting period you decide. This can be 4, 8, 13, 26 or 52 weeks.

    A rule of thumb is, the shorter the deferral period the more expensive the policy and vice versa.

  • Nobody expects to get ill, and if you do, unfortunately it will be too late to apply.

    Investing in a policy while you are young and healthy ensures the best price is secured for the future.

    We don’t have a crystal ball, but we can guarantee insurance can negate the financial stress in the event of a health concern.

  • Yes. It’s vital for those without employer sick pay to have income protection, we can recommend the right plan based on your company structure.

  • With tax relief and access to discounts monthly premiums are surprisingly affordable. We work with you to find the right priced income protection policy.