Income Protection
Your income is your most valuable asset, governing how you and your family live. How would your standard of living be affected if you were in an accident or illness was to strike you and you were unable to work for a long period of time?
You could face a large drop in income if you are off work for a prolonged period due to sickness or disability. This drop in income could in turn place significant pressure on your ability to continue meeting your day to day expenses and overheads, such as mortgage and other loan repayments.
If you are an employee and pay PRSI the social welfare Illness Benefit or Invalidity Pension may replace part of this lost income. However, the benefits are low and if you are self-employed you are not covered for these benefits at all.
By taking out income protection cover you can ensure that if you are out of work because of illness or disability your financial well-being is protected.
See our Income Protection Guide below for further information.
