Fergus was more than helpful and I have already recommended IFG Cork to many of my friends and work colleagues.
Fergus was absolutely fabulous. He helped us greatly and his advice was spot on every time. He went above and beyond for us. We were happy with the deal he got for us.
Your income is your most important asset – How are you protecting it?
How much is your income worth over your working life? Income Protection is more affordable than people think!
Here are the facts
• 85%* of the Irish workforce does not have any form of income protection and will be relying on their Employer and the State to continue paying them if they are too ill to work.
• If you are out of work due to accident or illness, the current State Illness benefit is only €204.30 weekly for a single person.(June 2009) – this is only payable for up to two years, after which it is assessed.
• More than 8 out of every 10 Irish workers say they could not maintain their current lifestyle on this level of State benefit.
• Less than 3 in 10 workers say they currently have any form of Income Protection plan.
• Only 1 in 3 people are aware of that you can claim tax relief at your marginal rate on the cost of your Income Protection
• If you are self-employed, you will have no income to maintain your standard of living if you are unable to work long term, as you have no entitlement to state benefit
• 1 in 6 of Irelands working population will be disabled for more than 6 months
• Only 15% of private sector workers are entitled to sick pay for more than 6 months
• 36% of those surveyed think their salary is protected by other insurance e.g. Mortgage Protection, Loan Repayment Protection and Critical Illness cover**
• However, less than 10% of the Irish Workforce have any form of private salary protection
*_Source based on Bank of Ireland Life Market research 2009_ **_Source based on Lansdowne Market Research Survey_
What is Income Protection?
Income Protection offers you financial security for yourself and your family if you are unfortunate enough to be out of work because of an illness or accident and suffer a loss of earnings as a result. You will receive a weekly benefit until you return to work or until your agreed retirement age.
Tax Relief on premiums
Received back up to 41% tax relief on your monthly premiums
What type of disability is covered?
Your plan will protect your income against:
• Any illness
• Any injury
• Any disability or
• Any accident resulting in you being unable to work for longer than your deferred period.
Deferred Period/Waiting Time
The Income Protection plan will provide you with an alternate source of income. This income is a weekly benefit payable after a deferred period of either 8, 13, 26 or 52 weeks. The deferred period is the length of time between when you were last at work due to the illness and when you start receiving an income benefit.
View a video on Income Protection here to see how this protection policy has helps others
Example below of claims made in 2008 – (Source – New Ireland plc.)
Income Protection is more affordable than people think – Click here to claculate the cost for you