INCOME PROTECTION
INCOME PROTECTION
INCOME PROTECTION PLANS
Income protection is a type of insurance that pays you a regular income if you can no longer work due to an injury or illness. Its aim is to replace some of your earned income once any state benefits are taken into account, so you could still maintain the level of lifestyle you are used to.
If you are in full-time employment or you are self-employed and earn an income, you can take advantage of an income protection plan.
These premiums for these policies are tax deductible at your marginal rate of tax.
WHAT IS INCOME INSURANCE?
Income Insurance provides a replacement income, also called incapacity benefit, if you cannot work as a result of an illness or injury.
After a certain period, known as the deferred period, you receive the incapacity benefit to replace some of your income while you are off work.
HOW INCOME INSURANCE WORKS
- You decide how much cover you need based on your current earnings, the deferred period you want (either 13, 26 or 52 weeks), how long you need the benefit to be paid for, and how long you want the cover for.
- You make regular payments to keep the cover in force.
- You receive monthly income from the end of your chosen deferred period for as long as you are eligible.
SERIOUS ILLNESS COVER
Serious Illness can bring practical and emotional problems and while no one likes to think about becoming ill, it pays to be prepared for the future. A serious illness policy will pay a lump sum on diagnosis of a specified illness (e.g. heart attack, stroke, cancer etc.). These policies can be arranged in conjunction with life cover or on a standalone basis.
ADVICE AND INFORMATION
Personal protection products are confusing and monthly repayments vary greatly depending on each individual and family situation. That’s why our dedicated team of advisors will take care of the whole application process, so you won’t have to.
If you need more information or advice, please call us to book your consultation.
NIALL KAVANAGH – DIRECTOR | 083 427 4881
CONNELL PORTER – DIRECTOR | 083 480 9229
