Income Protection – A Vital ‘Living Benefit’
Income protection is a way of making sure you and your family have a financial cushion should you ever need it.
When life is going well, it’s easy to take money for granted. It pays the bills and lets you take care of your family, enjoy your home, car, hobbies and holidays. Your income is essential to your quality of life.
But what if you were to have an accident or long-term illness that prevents you from earning a living? That’s where income protection comes in. It gives you an alternative income while you’re unable to work.
Any type of illness or injury which prevents you from working is covered.
Monthly payments are made until you can go back to work, retire or your policy ceases.
You choose the level of cover you require and how soon it begins after you have to stop working as a result of your illness or injury.
You’re covered for up to 75% of your income, less social welfare entitlements.
You may qualify for tax relief on your premiums up to your marginal tax rate.