Income Protection / Salary Protection
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We are one of Ireland's leading Independent Advisors of Income Protecion.
Why Cregan Kelly for Income Protection? We continue to provide |
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 | The best cover |
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| | The best independent advice |
| | The best service |
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| There are 4 major providers of income / salary protection and we deal with all of them: |
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| Who needs income protection? |
| Company Directors - no state disability payment |
| | PAYE Workers - only receive a certain amount per annum |
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| | Self Employed - No state payment available |
| | Civil Servants / Public Servants - may only be paid sick pay for 1 year. |
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| Your Income is your greatest asset
We don't usually think of our current income and future earnings as an asset. However, this is what pays for everything else - mortgage, bills, childrens' education, insurances and so on.
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| Now think about if you no longer had this income, how would you pay for everything? Now think about Income Protection. |
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Why Protect your Income?
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Do you realise that 1 in 6 of Irish workers will be out of work due to sickness or disability for more than 6 months over the course of their working life.
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Sick Pay Coverage
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| There is no obligation on your employer to provide sick pay
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| In the private sector, 85% of employees would be fully dependant on the state benefit after 6 months of absence. |
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| The public sector offers full pay for 6 months and half pay for 6 months
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Social Welfare Benefit
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| The State Disability benefit pays just €10,285 per year to an individual |
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| A typical family with one adult working, one adult dependant and 2 children would qualify for just €19,609 |
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| If you are self employed then you are not entitled to any benefit offers full pay for 6 months and half pay for 6 months
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| Income Protection - The Facts |
| 1 in 6 of Irelands working population will be disabled for more than 6 months |
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| The average claim duration is 5.5 years |
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| Social Welfare disability allowance is just €10, 286 per annum for an individual |
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| For a family with 1 adult dependant and 2 children that is just €19,610 per annum |
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| There is no Social Welfare benefit for the self-employed |
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| Only 15% of private sector workers are entitled to sick pay for more than 6 months |
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| 36% of those surveyed think their salary is protected by other insurance e.g. Morgage Protection, Loan Repaymen Protection and Critical Illness cover* |
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| However, less than 10% of the Irish Workforce have any form of private salary protection |
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| *based on Lansdowne Market Research Survey, April 2006 |
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Call us on 01 - 8700 370 for more information
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If you would like to arrange a consultation with one of our financial advisors, please click here. |
