Designed to pay you a regular income in the event of you being unable to work due to an accident, illness or disability which prevents you from working.
This cover is especially critical for the self-employed as there are no state benefits to fall back on.
Payments start after a waiting period (from 4 weeks on) and are paid to retirement age and you can cover up to 75% of your salary or if budgets don’t allow why not just cover your mortgage payment?
Premiums qualify for tax relief and claim payments are treated as income and therefore are subject to PAYE rules.
This benefit can be provided by an employer and no benefit in kind is payable by the employee.
Example of Cost
Male aged 35
Benefit of €500 per week
Waiting Period is 13 weeks
Cover ceases @ age 65
Occupation: Class 1
Monthly premium from €65.66
After tax relief @ 40% monthly premium is
€39.36
Notes:
- Non smoker
- Contract quoted is a personal income protection
- Level benefits
- Company quoted is Zurich
Please contact us for a no obligation quotation
Date of Quote 16/09/2024