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Income Protection

Income protection pays up to 75% of your normal income, allowing you to continue to take care of your family.

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What is Income Protection?

The purpose of Income Protection Cover is to provide a regular income if you are unable to work for a certain period due to illness or injury and you suffer a loss of earnings as a result. It can also be called 'permanent health insurance' (PHI) - but is not the same thing as private health insurance.

To obtain income protection insurance cover you generally must be in full-time paid work or be self-employed. You must be totally unable to perform the essential duties of your normal occupation and not be engaging in any other occupation.

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You should consider income protection if you:

Are self-employed or employed and have no other source of income if you become unable to work due to illness or disability

Don't have sufficient benefits to replace your lost income and/or cover your expenses

Have dependants who rely on your income

Have little or no sick pay from your employer

Have no ill-health pension protection


The benefits of Income Protection include:

  • Income protection pays up to 75% of your normal income, allowing you to continue to take care of your family
  • Income protection will allow you to continue to pay towards your outgoings such as household bills, loans, holidays, school fees and unexpected costs
  • Income protection has a guaranteed level premium option which means the cost will stay the same and never go up, even if you make a claim so you can budget for your premium
  • Payments continue either until you are well enough to return to work or your policy ends
  • There is no restriction on what you use the Income Protection benefit for
  • If cost is an issue, you don’t have to cover your full normal income, even a little cover is better than none
  • Income protection premiums qualify for tax relief
  • If you are in hospital for more than seven days income protection will pay a daily replacement income during your deferred period
  • Cover can be maintained if you are relocated in your job to anywhere within the EU
  • Your income protection cover can be increased every 3 years, by up to 20% of your original cover level, without further medical information
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These are the essentials, but as I always say, you should not go ahead with any policy until speaking with an advisor to ensure it fits your requirements exactly. Income Protection, in particular, is a complex area so please feel free to give us a call on 01 539 44 50 and speak to one of our expert advisors.

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*Average Cash-Back amount is based on average for all qualifying policies in 2023.
This offer applies to all Mortgage Protection, Term Life Cover and Critical Illness Cover policies with a term of 10 years or more - Click here for terms

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