First things first. Income Protection or Permanent Health Insurance (PHI), as it used to be known, should not be confused with Private Medical Insurance (PMI).
This type of plan will provide an income if you are unable to work through disability, no matter how it is caused. The policy pays a monthly tax-free income for a set length of time - normally until you are 60 years of age.
The payout can be level or set to rise with inflation. It will continue to pay as long as doctors agree that you are unable to work due to health reasons.
The maximum cover you can have is typically half of your provable income. This is paid tax free, so should you make a claim you will only be marginally worse off than you were before. The insurers limit the amount of cover you can have so that you have an incentive to get back to work!
In an ideal world, everyone should have this cover, because the State simply does not provide adequate protection, but many employers do offer it, so check your contract.
With Insurance4life, premiums are kept to a minimum.
Our Income Protection Insurance is not available to cover you for short-term illnesses, so things like the flu virus would not be covered. The vast majority of claims are caused by back injury or mental health problems.
Please note that we are not able to quote for Income Protection Insurance directly from this website however we do have a number of options available to assist you obtaining a quote for Income Protection.
You can complete the form opposite for a callback, you may contact us directly on the number provided above or alternatively you may wish to go directly to our partner site in order to complete a form. Whichever you choose, we always aim to have a quote with you within the hour.
See our Glossary of Terms to help with the industry jargon.
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