How Income Protection Works
Have you ever wondered what would happen if you became ill and couldn’t work? Who would pay your bills?
Income protection can help if you ever find yourself in that situation
What is Income Protection?
Income Protection pays you a regular premium income if you can’t work because of sickness or disability and continues until you return to work or you retire.
Income Protection is also known as Permanent Health Insurance
It will help with bills, food shop, and mortgage repayments
While receiving your regular income no premium will be paid
Cover is suited to best fit around you.
It is highly recommended for Self Employed Individuals
Some F&Qs which we get about Income Protection
Home much Income do I get?
The amount of income you are allowed to claim will not replace the exact amount of money you were earning before you had to stop working. Income protection can be covered for 75% of your income.
Does Income Protection cover employment termination or redundancy?
Income Protection will not cover you in the event of employment termination or if you are made redundant. it is designed to assist a policyholder in the event they cannot perform their job, due to illness or injury only.
Is income protection tax deductible?
you will be able to claim back tax relief on the premium paid at the end of the year
How long can I claim for?
You will be able to claim back tax relief on premiums paid at the end of the year
How do I claim income protection?
- Contact your employer and insurer, you should do this as soon as you fall ill or are injured and can’t work
- Fill out the claim form
- Wait to hear back and engage with your insurer.
If you want to know more about income protection email us: Gwen@gcfs.ie or send us an online enquiry
Find a wealth of information on a wide range of financial topics. Our goal is to provide you with relevant and timely information on a wide range of financial topics, including your Financial Planning, Pensions, Savings & Investments, Mortgages, Life Protection, taxes and so much more.
Gwen Clarke Financial Services Ltd’s team of experts understands that each of the clients has unique financial needs, which is why we tailor our services to meet your specific requirements. It is our aim to help you achieve your financial goals by providing you with personalized advice and guidance every step of the way. Whether you’re looking to invest for the future, secure a mortgage, or protect your loved ones, we can help. Contact us today to learn more about our services and how we can assist you in securing your financial future!