Life Assurance and Income Protection.


Known as Life Protection, Life Cover, Life Assurance, Life Insurance, it’s all the same thing – a policy that pays out a tax-free sum on death.

Many of us ignore the uncomfortable realities in life, but one thing we should all be asking ourselves is this. What happens to my family if I die?

If you have a family that relies on you providing an income, Life assurance can help provide security for the family finances. It can help bridge the financial gap between a parent dying and their children being able to work for themselves.

Your income pays the bills that keep a family going. The childcare, new clothes, the new bike, a college education, the list goes on and in the case of a single income family items like childcare can increase if the surviving parent has to work. Depending on the age of your children, you can choose a 10-year plan, a 20-year plan etc.

Income protection

Income protection provides you with a replacement income in the event you cannot work due to injury or illness. You can take out income insurance if you are in full-time work or are self-employed and earn an income.

It pays you a regular monthly income and continues until you are 65 or you return to work. Payments on your plan are eligible for income tax relief at your marginal rate of tax.  The maximum benefits payable is 75% of total yearly earnings less any State benefits or other income protection plans.