Income Protection

"Your life is your family and what keeps your family alive is your income.

Without your income what do you do?

So if you protect your income you protect your health and you protect your family against disasters that do happen. Accidents do happen."

We cannot stress how important we believe this type of cover is to our clients.

Your Biggest asset is your ability to Earn a living. It is from this that we can pay our household expenses, living expenses, pension, savings and so on. The list is endless. We take this luxury for granted. One thing is for certain if you are unable to earn an income due to an illness, accident or disability then you could struggle financially.

Not everyone will be entitled to take out a policy because the underwriting will depend on your age, state of health and the nature of work you do. Our advice to everyone in Sligo is to come in or call us to see if you can get Income protection cover and start protecting your biggest asset.

We will be happy to go through the options available and the cost associated with a plan that should suit your circumstances.

What is Income Protection?

An income protection insurance policy pays out a regular cash payment that replaces part of your lost income if you have a long-term illness or disability and you can’t work. It is also sometimes called permanent health insurance.

Income protection policies are not the same as private health-care plans. If you are ill and need medical or hospital care, private health-care plans help pay for the costs of your treatment. They do not pay out any extra cash benefit. Income protection plans do pay out a cash benefit but only if you are unable to work and your income is affected because of your illness. The cash is paid out as an ongoing regular income for as long as you are not able to earn an income because of the illness

Who needs Income Protection?

You may be entitled to get enough money to live on from social welfare, sick pay or your employer pension plan. If so, you may not need extra cover from an income protection policy. However, you may need this cover if:

• you are self-employed
• you would get little or no sick pay from your employer; or
• you have no ill-health pension protection