Your Financial Planning is Protected by Income Protection
Whether or not you are self-employed, an employee in the private sector or employed in the public sector, it is unlikely that you will be paid indefinitely if out of work due to accident or illness and at some stage your income will reduce and eventually cease completely.
While this is not positive, the good news is that income protection helps by protecting up to 75% of your regular income and the premium for income protection gets tax relief that is Approved by Revenue.
With an Income Protection plan in place all other financial plans can stay on track.
Designing Your Income Protection Plan
The two most important things to consider are how much to cover and how soon do you need the income protection to replace normal income.
The income protection payments start from as early as 4 weeks and can be delayed up to 13, 26 and 52 weeks. This means your plan can pay out whenever you are likely to have a potential shortfall in income.
Deciding on How Much Income Protection
While up to 75% of income can be protected, the plan can be built to meet individual needs and budgets.
Depending on personal and family circumstances, it may be that only the mortgage needs to be covered. It could be that cover is only required for the biggest and most important direct debits.
It is possible to have income protection for as little as €10 euro per month before tax relief.
Expert Advice & Information
We provide advice and information on an income protection plan that will suit your budget and take care of the important financial commitments if you are out of work due to an accident or sickness.