Income Protection Overview

Investwise pride ourselves on offering our clients independent advice on financial products available to them in the marketplace.  We are continually evaluating these products to determine which offers the best value but it often depends on your specific financial circumstances to determine the best option for you.  When it comes to income protection it’s not just the cost of the plan that’s important but also how readily the insurer will settle a claim if you need to claim it.

In Ireland when it comes to income protection there were really only teo products to consider – Friend’s First and Irish Life.  However New Ireland Assurance have recently entered the market and now have a number of features that make their policy worth considering - Learn More

We have worked very closely with Friend’s First over the last number of months and have provided plenty of “constructive criticism” to help shape a plan that best fits the Irish Market.

What is Income Protection

Income Protection is a form of disability or sickness insurance that gives you more control of your financial security.  You pay a monthly premium determined by your occupation and health status, and the life insurance company covers you with a regular income for the duration of your illness, injury or disability until you return to work, or until retirement.

With Income Protection, you have a range of options and cover types to choose from, allowing you to create an income protection plan to fit your lifestyle. As your needs change, your Income Protection policy can be adjusted to suit your new circumstances. Income Protection can cover any illness, any injury or any disability, so you have peace of mind knowing you have the right protection for the things you love.

Why do you need Income Protection

When illness, injury or disability leave you unable to work for three months or more, you need the financial security of a product that keeps you on top of the bills that matter: mortgage payments, car loans, food bills, rent and more.

Case Study: "Income Protection was the lifeline"

James Doyle fell ill and had to have a lung transplant. He says: “ People just never feel it is going to happen to them and I was one of them. Income Protection was the lifeline.”  Government Disability won’t cover much. Many people think the government will provide for them and their family.  Unfortunately at just €197.80 per week (plus up to €131.30 if you are part of a couple and €24 per child, as of January 2008) for PAYE employees, and nothing if you are self employed, government support comes up a long way short! Where would you or your family even start to make sacrifices?  €197.80 per week would barely cover most people’s mortgage payments!

Meet our Financial Services Team or contact us now for a free consultation.

• Learn more about Income Protection Plans
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