Income Protection is a form of disability or sickness insurance that gives you more control of your financial security. It is designed to pay a regular income to you if you become unable to work due to accident, disability or illness. When the insurer admits the claim the benefit commences after an initial period ranging from 4 weeks to 52 weeks - you decide how long - and it continues for as long as you remain out of work - right up to age 65 (or your retirement if sooner) regardless when you first started to claim. Your premium will not be increased just because you make a claim, and what's more, you can make as many claims as you need to.
With Income Protection, you have a range of options and cover types to choose from, allowing you to create a plan to fit your lifestyle.
With proper planning your Income Protection policy can ensure you continue to pay your mortgage, household bills and living expenses whenever you are unable to work due to accident, disability or illness.
Income Protection Insurance is very tax efficient and provides an ongoing income of up to 75% of your normal salary (including any social welfare benefits) whenever you are unable to work due to any accident, illness or disability until you successfully return to work or until retirement age.
Income Protection Insurance is available to cover the income of Company Directors, Self Employed and PAYE Employees.
If you believe you require further clarification on any matter relating to income protection insurance please feel free to contact us for independent and impartial advice.