Income Protection in Ireland
Why do you need income protection?
What would happen if you were unable to work and earn an income? Have you thought of what would happen if you were in a serious accident or you fell ill and were not able to receive your salary every month? Income protection can ensure that you earn an income up to your retirement age if you are unable to work (depending on the type of income insurance policy that you choose).
There are three main players in the Income Protection business in Ireland, namely Friend's First, Irish Life and more recently New Ireland Assurance. As independent Financial advisors we are often asked which policy we would recommend and indeed we are happy to make this recommendation once we know a little more about an individual's specific requirements as each of the policies have different features which may or may not be beneficial to you. We have provided an overview of each of the policies below but please contact us with your specific requirements and we will come back to you with some options and a recommended solution.
Friend's First policy overview
The income protection policy offered by Friends First has long been considered the superior policy on the market. While slightly more expensive than the competition, it does offer some additional benefits that may be of interest. Learn more about income protection plans available in Ireland.
Irish Life policy overview
Recent changes to the Irish Life policy have made it a more attractive offering. Generally cheaper than its competitor this policy is particularly suitable for those who are price conscious.
New Ireland Assurance (Newly launched)
New Ireland, the Life Assurance arm of Bank of Ireland, have launched a new Income Protection product to compete with the existing offerings from Irish Life and Friends First. They are first to the Irish Market with a number of features which make the policy very competitive. Learn more about New Ireland Assurance's Income Protection Policy.
Make sure that you can continue living your life even if disaster strikes and you are not able to earn an income. Maintain your lifestyle by contacting us for income protection!
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