Affordable and Effective Income Protection
Income Protection from as low as €10.10 per month.
What is Income Protection in Ireland?
Why would I need Income Protection?
If you are unable to work in Ireland, the State illness benefit will pay you €13,000 per year. Income protection bridges the gap between your salary and the illness benefit.
It helps cover essential living costs, such as mortgage payments, bills, and daily expenses, giving you financial security.
Payments continue until you return to work or reach retirement age, depending on the policy terms.
Who Needs Income Protection?
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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
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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
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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.
Income Protection for Employees and Self-Employed
Public Sector Income Protection
Public sector employees can insure up to 75% of salary (less any Illness Benefit).
Public sector sick pay is typically 3 months full pay and 3 months half pay, giving you the option to supplement the 4th month or cover fully after 6 months.
Premiums are paid from your bank account, with tax relief of up to 40% available through Revenue’s myAccount.
Private Sector Income Protection
Private sector employees can insure up to 75% of salary (less any Illness Benefit).
Private sector sick pay can vary by employer, you can choose a deferred period (e.g., 4, 8, 13, 26 weeks) to match your employer’s sick pay policy so that cover begins when your salary stops.
Premiums are paid from your bank account, with tax relief of up to 40% available through Revenue’s myAccount.
Self-Employed Income Protection
Sole traders can insure up to 75% of salary via a personal income protection policy.
Company directors can insure up to 75% of salary via an Executive income protection policy.
Neither will typically have sick pay, so early deferred periods are essential.
Premiums are paid from either your personal bank account or, if you’re a company director, through your business (Executive plan). Rate of tax relief depends on your legal status.
David, 30, Civil Service employee earning €60,000 per year
Insures full 75% of his income to age 65, costs €100, or €60 after tax-relief.
David’s is diagnosed with an illness that prevents him from returning to work. He claims via his policy.
Approved by the Insurer, 75% of David’s salary is paid for the remainder of his working life.
He receives €45,000 per year for 35 years, or a total of €1.57 million in Income Protection, (including illness benefit).
What was a cost of €60 per month to David, resulted in lifetime payments of over €1.57 million in return. The idea that Income Protection is expensive, cannot be supported by logical reason.
Income Protection, in perspective:
Tax Relief on Income Protection Quotes 💡
Premiums paid into your income protection policy qualify for income tax relief of up to 40%, making policies more affordable and tax efficient.
Best Quality IP Quotations 🏆
We quote for all major Income Protection providers in Ireland, helping you secure the policy that best meets your personal and financial needs.
How Much Cover Can You Get? 📊
You can insure as much of your salary as required. Policies typically cover up to 75% of your income, but you can choose any amount up to this maximum.
Protection When You Need It 🛡️
We take your employer’s sick leave arrangements into account, ensuring your income protection payments start at the right time. Waiting periods are flexible, with options of 4, 8, 13, 26, or 52 weeks.
Additional Benefits ➕
Some providers offer extra benefits to support your health and wellbeing, including digital GP access, consultant referrals, counselling, and return-to-work assistance.
Discount Income Protection Quotes 💶
With access to competitive discounts and tax relief, income protection insurance in Ireland is often more affordable than people expect, giving you peace of mind without breaking the bank.
FAQs
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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.
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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.
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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.
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With tax relief and access to discounts monthly premiums are surprisingly affordable. We work with you to find the right priced income protection policy.
