Everyone needs an Income Protection plan.
How will you pay your bills?
For many people, not just the self-employed, the reality is that if something medical happens to you
that prevents you from doing your job, you will no longer be earning an income. State disability benefit is just
€203 p.w. / €10,556 p.a., which would be quite a drop in income and is most likely, not enough to pay for all
of your basic household bills, never mind the odd luxury.
Not all employers will pay their staff indefinitely if they were unable to work.
You can cover a maximum of 75% of your gross annual income with an income protection plan.
This is known as the deferred period – the length of time between when you are first unable to do your job and when the benefit becomes payable. The longer the deferred period, the lower the monthly premium.
Premiums qualify for tax relief at the marginal rate, currently 40%, making this very affordable.
You must also choose
how long you would like the policy
to pay you for.
Five life assurance companies in Ireland offer income protection plans and Family Cover deal with all of them.
We will help you choose the most suitable offer.
An Income Protection plan offers you terrific support.
Some points worth noting
01
Disability benefit
If you are self-employed,
you are not entitled to any State disability benefit.
02
Restrictions
State disability benefit is only €203 per week for an individual and may be payable for a maximum of 2 years only.
03
Entitlements
If you are employed, you should consider how long you will be paid by your employer if you are out of work due to ill health. Your employers can inform you of your entitlements.
Over 55% of current income protection claims being paid, would NOT
have been covered by a specified serious illness policy.
Family Cover have been providing
expert advice on Income Protection Plans in Ireland since 2000. We know how to get you the best possible cover.
Ready to get started?
To request a quote for your own income protection policy, complete this form
and a professional adviser will send your quote asap.