Income Protection

Income Protection provides you with a regular source of income if you’re forced to be out of work due to illness or injury.

Under this type of cover, the payment would normally start once you’ve been off work for a certain length of time. This is known as the deferred period.

You would continue to receive the payment until you have recovered and are fit to return to work or until your chosen retirement age.

How much of my income can I protect?

Policy holders can set the amount that they would like to be insured for but the maximum benefit is 75% of your annual salary (less the State Illness Benefit, which is approximately €10,000). The State Illness Benefit is not paid to the self-employed.

The limits on the maximum income level that you can cover vary between insurance companies but generally speaking it’s up to 75% of the first €125,000 of your salary plus 33% of the balance, minus the State Illness Benefit. This is subject to an overall maximum of around €175,000 - €250,000.

Changes to the Amount of Cover

In the event of a claim the insurance provider will pay out based on your actual earnings (not the level of cover you’re insured for) so it’s important to go over your policy frequently to make sure you’re appropriately insured.

Does my occupation matter?

Yes. Not all occupations are covered. Certain jobs, particularly those that have a degree of occupational risk (e.g. working with hazardous materials or in potentially dangerous spaces) might not be coverable. Contact us for more information.

For anyone living and working in Ireland, one of the most important investments that you can make includes income protection. Keeping your money safe and secure is always very important, which is why recommend you get an income protection quote. Income protection insurance plays a key role in making sure that you can stay secure financially should bad luck befall you.

The best income protection insurance for your needs, though, can be a challenging issue to decipher. In a bid to help you do that, we can make sure you have easy access to self- employed income protection quotes today. Simply take a look at our income insurance solutions, and you can make sure that you never need to worry about keeping yourself secure financially in the event of losing your income.

For example, you could find yourself unable to work for all manner of reasons. From theft of tools to a loss of physical conditioning for a period of time, income protection insurance will make sure you have no such problems in keeping your coffers full. This will help to make sure you have the security needed to pay the bills, get your job done and just make sure that you have no problems in staying financially independent.

If you want to compare income protection insurance quotes, then we can make that easy for you here. Simply use our information onsite to better understand what kind of income protection insurance that you might need.

What is income protection insurance?

Essentially, someone who works without insurance and protection of their wages from an employer could use this insurance to cover as much as 75% of their annual salary. It’s especially recommended for those involved in self-employment.

Working self-employed has many benefits, not least the fact that you are in total control and charge. You are your own boss, without any issue. However, if you happen to fall ill or get injured, then you cannot make any money. Income protection insurance will make sure that such problems not need become an issue for you.

Instead, you will be insulated from the potential for illness or physical damage. While your industry might not come with adequate income protection assurances, you can use our income protection insurance calculator to work out what kind of coverage you would need.

With the ability to protect yourself and keep the bills paid in the event of a problem with your health or physical condition, income protection insurance offers much-needed peace of mind. Don’t take any risks: secure your future with the gift of financial safety thanks to the power of income protection cover.

Don’t let your personal income take a hit due to tragic and unforeseen circumstances. Take a look at our income protection insurance options, and you can cover yourself for the worst case scenario.

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What our clients think

I’m really happy with the terms of my policy.

Anne-Marie, Dublin

I was worried that the whole process was going to be stressful but the team at Gallivan Financial really put me at ease.

Breda, Kildare

I spoke with a few different brokers but Gallivan Financial were head and shoulders above the rest.

Tom, Dingle

Fergal couldn’t have been more helpful. A pleasure to deal with.

Michael, Killarney

Exceptional customer service. Would definitely recommend to a friend.

Paul, Cork

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