Income Insurance, also known as income protection provides you with a replacement income if you cannot work as a result of an illness or injury after a certain period of time. You can take out income insurance if you are in full-time work or are self-employed and earn an income. It protects you only in these circumstances – it will not be paid if you become unemployed.
Cost depends on your Age, Income, health, occupation and the benefits you choose. Payments on your plan are eligible for tax relief at your marginal rate of tax.
It pays you a regular monthly income, replacing some of your earned income. Cover continues until the plan ends or you return to work.Cover is limited to:
- The maximum benefit payable is now €250,000, previously this was €150,000. Benefits paid are less any State benefits or other income protection plans.
- The maximum benefits payable is 75% of total yearly earnings, less any State benefits or other income protection plans.
See how income protection has helped our customers.
New to our Life Insurance plans, LifeCare gives you and your family valuable access at no extra cost to expert assistance and services, many of which are available 24/7, 365 days a year. The services are as follows;
Income Insurance Booklet
This booklet will give you details of the benefits available on the Income Insurance plan. It is designed as a guide that allows us to explain the product to you in short and simple terms.