Often referred to as ‘permanent health insurance’, this covers your income or replaces lost income in the event of any type of illness or injury which prevents you from working.

Think of it as ‘paycheque insurance’ for you as an individual or groups of employees.

Most people insure for up to two thirds (2/3rds) or three quarters (¾) of their salary as the insured amount for income protection cover. Then decide on the ‘deferred period’ before you require the benefit to start (13 weeks, 26 weeks or 52 weeks). Monthly costs are tax deductible and the benefit is of course taxable like any other income, within certain limits.

Why not email us at ikennedy@obi.ie for further details. We’ll provide you with a best in market quote.