It pays you a regular monthly income, replacing some of your earned income. Cover continues until the plan ends or you return to work.
If you do claim on this plan, your incapacity benefit will be treated as normal income and so is assessed for income tax, PRSI and the Universal Social Charge. Income protection does not cover you if you become unemployed.
Payments on your plan are eligible for income tax relief at your marginal rate of tax.
Cost depends on your Age, Income, health, occupation and the benefits you choose.