Income Protection

Our lifestyle, mortgage, family holiday, car etc., are all only possible through our most valuable asset, our Income.

Income Protection cover pays you an income in the event of being unable to work due to any illness, sickness or accident. The cover would continue to be paid until you return to work or reach the cessation age of your chosen policy. Outlined below is a summary of the main features of Income Protection:

• Occupations are classed from 1 to 4, with 1 being lower risk occupations such as professionals
• Full tax relief on premiums at marginal rate.
• Can protect up to 75% of your income (less state benefit if applicable).
• Payments made under a claim are taxed as income at your marginal rate.
• The income payment will only commence after a deferred period of 4, 8, 13, 26 or 52 weeks.
• The cover can be paid to age 55 to 65.
• 60% of Income Protection claims would not be covered under a Critical Illness policy.

At IFG Financial Waterford, we are regulated as a Multi-Agency intermediary by the Central Bank of Ireland and we hold agencies with the four major Income Protection providers in Ireland. Our objective is to search the market on your behalf and provide you with the most suitable income protection plan at the most competitive price.