Specified Illness/Income Protection

With Medical advances, people are more likely to survive serious illnesses. But this means that more people are likely to take prolonged periods off work for treatment and recovery. This has a huge impact on their income and as a result can hinder recovery.

It’s estimated that €50,000 would last 17 months, based on monthly outgoings of €3,000.

There are two distinctly different protection plans to safeguard against financial loss as a result of illness or injury!

Specified Illness

  • Pays a pre-selected amount, 14 days after the diagnosis of one of a number of specific illnesses
  • Will allow you to replace income, pay bills or make necessary home alterations
  • Cancer and Heart related illnesses add up to 80% of claims
  • Irish Life paid out Specified Illness claims valued €192,000, every working day in 2015
  • Would allow you the time and space to recover, without financial distractions.
  • Click to see indicative rates
    Specified Illness Rates
    Age Sum Assured Premium
    30 €50,000 15.06
    35 €50,000 20.59
    40 €50,000 30.01
    45 €50,000 45.9
    50 €50,000 72.53
    Assumes non smoker for 20 year convertible term

Income Protection

  • You are entitled to have a plan which would replace 75% of your income
  • Premium is based on age, occupation, salary and deferred period before claim paid
  • Premium is allowed against Income Tax
  • Claim would pay income until recovery or retirement, i.e. protecting your income for the rest of your working life
  • Partial payments allowed to encourage return to part time or alternative employment
  • Click to see indicative rates
    Income Protection Rates
    Age Monthly Premium Premium
    Benefit  € Gross  € Net  €
    30 2,501 50 30
    35 1,888 50 30
    40 1,452 50 30
    45 1,053 50 30
    Assumes Class 1 occupation, 26 weeks deferred period, ceasing at age 65,
    Also, premium is guaranteed and indexed and benefit is escalating