Income Protection Cover

Individual Income Protection:

save moneyIs designed for the self-employed or someone in employment where this cover is not provided by the employer.

The maximum amount of salary that you can protect is 75% less the current State Disability benefit of €9,776.  For those who are self employed there is no state disability payable.

Example based on a  non smoker.

John is a  41 year old accountant, currently earning €50,000.  He wants to protect his salary in the event he is out of work due to accident or illness.  He selects a three month waiting period and chooses a premium which is guaranteed (no premium reviews).  In the event of a claim the following is payable:

Annual amount payable.  = €27,723.80

Premium €121.36 per month
Tax relief at 41% €  49.76 per month
Net Cost €  71.60 per month

 

Executive Income Protection:

This plan is taken out by an Employer on behalf of an Employee.  Contributions to an Executive Income Protection Plan can qualify for tax relief as a deductible business expense.  This plan does not attract tax or BIK for the employee so it is seen as very attractive incentive.

Mortgage Income Protection:

Mortgage Income Protection cover pays your mortgage and loan repayments if you were out of work due to an illness or disability.

Wage Protector:

Is a cost effective alternative to Income Protection designed for those who cannot afford full Income Protection, but would like to have some level of cover in place.

Contact Future today for Income Protection Quotes and Advice.