Income Protection

• A guaranteed level of premium option which means the cost will never go up, even if you make a claim.
• Income Protection qualifies for Tax Relief at your marginal rate.
• You must be in full-time paid work as a self-employed person, or as an employee or company director for income protection to receive benefits in the event of a claim.
• If you are an employer, you may wish to consider a Group Income Protection scheme for all the full time employees in your organisation.
• Income protection can replace 75% of your salary less any social welfare payments when your off work due to illness or injury, you pay a monthly premium determined by your age, occupation and health status.
• If you are absent from work due to illness or injury the policy provides you with a replacement income after a deferred period which is chosen by you at the outset of your policy. You will be paid until you return to work, or until your chosen retirement date if you are not fit to return to work before then.

Warning: Income tax relief is not guaranteed. To be eligible to claim income tax relief, your income must be taxable under Schedule E. To claim income tax relief, you can apply to your Inspector of Taxes to adjust your tax credits. Contributions deducted from salary will receive immediate tax relief. Any regular contributions from your employer are deductible by them as a business expense for Corporation Tax purposes in the Company tax year in which contributions are made. Pension income in retirement is subject to income tax at your highest rate on withdrawal, Universal Social Charge (USC), PRSI (if applicable) and any other charges or levies (tax) applicable at the time.