Income Protection Explained.
Income Protection provides you with a regular income, which is paid out if you cannot work due to an illness or injury. It is meant to replace some of your earned income if you can no longer earn an income yourself, making sure that you can still enjoy a comfortable standard of living.
You can take out income protection if you are in full-time work or are self-employed and earn an income. It protects you only in these circumstances.
Other Income Protection Payment Options:
Although the time you spend in hospital may be relatively short, there is still a strong possibility that you will have to take some time off work so that you can recover after your accident.
Why Do I Need Accident Cover?
Accident Cover will pay you up to 50% of your average weekly earnings if you are unable to work for more than 2 weeks. This is up to a maximum of 52 weeks.
A Surgery Payment applies to Specified Illness Cover only and will pay you up to 12.5% of your Specified Illness lump sum if you have to undergo any of the included surgeries. This is up to a maximum of €32,500.
The surgery payment amounts are payable up to 4 times during the term of your plan (maximum limits apply).
Why Do I Need A Surgery Payment?
If you have to undergo major surgery, this will most likely mean having to take time off work for both the surgery and indeed recovery. A surgery payment can pay you 12.5% of the specified illness benefit amount as per policy conditions.
Broken Bones Payment
Broken bones may not be life threatening but it can stop you from working for weeks, even months. This could put a serious strain on your finances. Just because you aren't working doesn't mean the bills stop coming in.
Why Do I Need Broken Bones Payment?
The Broken Bones Payment will pay you a lump sum of between €1000 and €3000, if an accident results in a fracture, dislocation or break of a bone as per policy conditions.