Income Protection

At Smart Finance we take the straight forward view that good health and your ability to earn an income not only underpins your ‘current life style‘ but also your ability to achieve your goals.

This is why we view Income Protection so highly and place such a emphasais on recommending it to our clients.

Income protection is a straight forward, tax efficient and relatively inexpensive plan that provides you with an alternate source of income if you are unfortunate enough to be unable to work and suffer a loss of earnings as a result of ‘Any‘ disability, injury or accident.

Why do we feel Income Protection is so important?

If you were unable to carry out your normal occupation for a prolonged period of time due to an illness, injury, or accident how long could you continue to meet your financial commitments?

Who would pay your mortgage or personal loans repayments, your medical bills or even your children’s school expenses? If you do not know how you would cope in these circumstances, then we need to talk.

Remember;

  • If you are self-employed you can not claim State Illness Benefit.
  • If you are employed and single you can only claim €188 per week State Illness Benefit for a maximum of two years after which you will be asked to undergo an assessment to see if you qualify for a State Disability Pension.
  • Most importantly, if you are employed you should immediately check with your HR department to see how long you will be paid for by your employer if you are absent from work due to illness, injury, or accident.