Income protection 

Income Protection is designed to replace your income in the event of long term sickness or ill health. It will provide an income if you are unable to work through injury, illness or disability.

The maximum cover you can have is typically 60% of your gross income. This is usually paid tax-free and therefore you can maintain a similar level of income.

The premium will depend on a number of factors, including how much cover you need, your job, the policy term, your age, sex and your current state of health.

When choosing your income protection policy you will have a choice of deferral periods.  A deferral period is the time that you are off work before the income is payable. The usual periods are 4, 13, 26 and 52 weeks and all can be simultaneously selected on the quotation. When deciding which deferral period is most suitable you will need to take in consideration any sick pay or benefits that you might receive from your employer or the state. Choosing a longer deferral period will significantly reduce the monthly premium.
Everyone should consider this cover as the State simply does not provide adequately.

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