WHAT IS INCOME PROTECTION?
Your income is probably your most important asset. It funds your whole lifestyle from what’s in your fridge to where you go on holidays. Your children depend on it from birth, right through to college and often beyond.
WHY DO I NEED IT?
An Income Protection plan pays you a monthly income if you are unable to work due to any illness, accident or injury. It will continue to pay you an income until you are well enough to return to work, or if not, until your retirement age.
How long would your employer pay you if you were on prolonged sick leave?
How would you cope financially after that?
Did you know, if you are self employed you are not entitled to the State Illness Benefit if you are unable to work due to illness?
WHY NEW IRELAND?
Income Protection from New Ireland gives you great cover:
It protects up to 75% of your earned income to age 65.
It can pay out after 8, 13, 26, or 52 weeks following an illness or injury.
The cost of your cover will never increase during the term of your plan (unless you choose to index it).
Tax relief is available on your premiums at your marginal rate of tax.
It pays out a daily amount on hospital stays of 7 days or more to a maximum of 90 days.
“Confirmed Income Option” means that if your income falls during the term, we will still pay you the higher amount agreed at the outset.
Income Protection is more competitive than you may think – the younger you start the less it will cost. And remember your premiums are eligible for tax relief at your marginal rate of tax.
YOU CAN'T PREDICT THE FUTURE BUT YOU CAN PLAN FOR IT
While we all hope and often believe it won't happen to us, the reality is that families throughout Ireland are affected by these events every day. In 2012 alone, New Ireland paid out over €94 million to customers impacted by ill health, serious illness and unexpected death.