Income Protection Galway - Accident or Illness Cover

Can’t work? Don’t worry. Income protection provides cover for your income if you become unable to work. Income protection pays a taxable income benefit if this happens.

The key question with this cover is when should the benefit start paying out? The “deferred period” is usually 13 weeks. This means you must be off work for more than 13 weeks before the income benefit commences. After that time you are covered up to retirement should your illness or disability last that long. You can also select a deferred period of 4, 8, 26 or 52 weeks depending on your own individual circumstances and requirements.


1. Tax Relief
Income protection pays a taxable income benefit if you are unable to work. There is tax relief at your marginal rate of tax on all premiums.

2. Reduce the Cost of the Cover
If your job covers your income for long periods, or if you have significant financial resources to support you, you could take a longer deferred period, which would reduce the cost of the cover.

3. Clear Idea of the Cost and Availability of Cover

Some occupations will not be eligible for cover while others will attract higher premiums. You can discuss the nature of your occupation with us so we can determine eligibility or otherwise.

4. Find the Right Cover for Your Needs
You can insure up to 75% of your income, less any entitlements to social welfare. Self-employed people and propriety company directors don’t have social welfare entitlements for disability so this cover is essential for them.  We will be able to advise on the appropriate level of cover, taking into account your income needs, your social welfare entitlements, and the cost and availability of cover.

Contact Us Today

Fahey Financial Solutions provide a range of solutions to cater for all your requirements. To find out more about our service, contact us today on 091-394187, email or book an appointment through our Contact Page.