Monday, 11 April 2016 13:17

Loosing the ability to earn an income could be a financial headache.

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“If I didn’t have this income protection policy, I would have had to sell my house”

Clodagh, Dublin


The financial headache you face when an illness or accident prevents you from working can be severe. Income protection is a policy that provides an alternative income if you find yourself in that situation. It means you can focus on your recovery.


It can provide you with up to 75% of your normal income when you're off work due to illness or injury - helping to cover regular expenditure & ensure minimal lifestyle changes for you and your family.


Income Protection

When the unexpected happens, we know that what matters is peace of mind from a policy you can trust. An income protection policy:

  • ·         Can pay up to 75% of your usual income*, allowing you to continue to take care of your loved ones


  • ·         Some plans qualify for Tax Relief at your marginal rate


  • ·         Pays a daily replacement income if you are in hospital during your deferred period


Friends First paid out over €34 million in Income Protection claims in 2015, with average claims lasting 5.5 years.


What exactly does Income Protection cover?

Income Protection can replace up to 75% of your usual income less any social welfare payments when you’re off work due to illness or injury. You pay a monthly premium determined by your age, occupation and health status.


If you are absent from work due to illness or injury, income protection provides you with a replacement income after a deferred period which is chosen by you at the outset of your policy.



Why would I need Income Protection?

When illness or injury leave you unable to work you need the financial security of a product that keeps you on top of the bills that matter including:

  • ·         mortgage payments
  • ·         car loans
  • ·         food bills
  • ·         rent and more

If you do not have an alternative source of income, how would you maintain your lifestyle? In 2015, the State Illness Benefit amounts to just €188 per week. Could you survive on this?


Income protection helps take care of your financial needs while you are focusing on recovery - a time when money worries should be the last thing on your mind.

What are the chances?

  • ·         One in three people in Ireland will develop cancer during their lifetime (Irish Cancer Society, 2013)
  • ·         An estimated 30,000 people are living in the community with disabilities as a result of a stroke (Irish Heart Foundation, 2013)
  • ·         With medical advances, people are more likely to survive serious illnesses but this means that more people are likely to take prolonged periods off work for treatment and recovery. This could have a huge impact on their ability to earn.

While Life Insurance pays out after you die, Specified Illness and Income Protection cover pay you while you are living. You need the benefit of financial assistance at these difficult times, which is why they are often referred to as living benefits.


Additional Income Protection Benefits

Other Benefits include rehabilitation assistance, relapse benefit, partial benefit, home-visits with independent qualified nurses or professionals, return to work support, and career change guidance.


Income Protection will help to relieve the financial burden while you get your life back on track. Get cover today - contact us in Dublin on 01-6853818 or Mullingar on 044-9348531 or online at


Anthony Curran is an advocate for your financial future who takes a holistic approach to your needs and goals. He will work collaboratively with you to define what success and financial independence mean to you and how best to achieve them. Anthony is well qualified to provide long-term support and guidance on a variety of financial challenges and will help you focus on what you can control. Defining your own financial freedom will help you be more comfortable about retirement and the possibilities of creating the life you want. Whether you are single, married, or raising a family, your approach to financial well-being now will shape your life for years to come.


Read 1936 times Last modified on Monday, 11 April 2016 13:34

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