We all know about the “obliged to have” insurances : mortgage protection, car insurance, home
insurance, travel insurance. We also often have other forms of protection including health insurance
and pet insurance. But how many people don’t consider protecting the one thing that pays for
everything else? Their income.
Your income is your greatest asset. Without it the bills wouldn’t be paid, the mortgage wouldn’t be
paid, the car wouldn’t be there. And there would be no luxuries like gym memberships or holidays.
It can be easy to take your income for granted. But have a think about what would happen if an
illness or injury left you unable to work. How long would you receive payment from your employer?
Do you have savings you could use to sustain your lifestyle?
If you are entitled to it, State Illness Benefit is currently €203 a week. Would that cover your current
outgoings?
Income Protection provides an alternative income while you’re unable to work. This can give you
financial security and peace of mind while you recover. Here’s an easy-to-follow video guide to
Income Protection from one of a choice of product providers:
An income protection plan pays you a replacement income until you return to work or until your
chosen retirement date, if you’re not fit to return to work before then. There are a selection of
product providers and plans with different features on offer. At Lifespan Financial Services we can
help you to select the best choice for your individual circumstances and lifestyle.
