The financial headache you would face if an illness or accident prevented you from working could be severe. Income Protection (Salary Protection) means you can continue to pay your household bills and maintain your current lifestyle.

Income Protection is an insurance policy that provides an alternative income if you were out of work due to illness, accident or injury. It means you could focus on your recovery at a time when financial worries should be the last thing on your mind.

By paying a monthly premium, which is determined by your employment and health status, you will receive a regular income for the complete duration of your illness until such time as you return to work or reach retirement age.

Not only is salary protection affordable, but like private health insurance, you will enjoy tax relief on any premiums you pay. Which makes it doubly attractive for the times we are living in.

• It can provide you with up to 75% of your normal income when you’re off work due to illness or injury – either until you return to work or reach retirement age.
• Has a guaranteed level premium option which means the cost will never go up, even if you make a claim.
• Qualifies for Tax Relief at your marginal rate.
• Pays a daily replacement income if you are in hospital for more than seven days during your deferred period.
• Should you change employers or become redundant during the term of your policy, you will not have to reapply and your salary protection plan will continue as normal.
• How you use your alternative income is up to you.
• You select when payments begin in the event of a claim by choosing a deferred period from 4, 8, 13, 26 or 52 weeks.
• You choose the type of premium you pay (guaranteed or reviewable premium)
• You determine the policy term (the ceasing age of the policy – i.e. 55, 60 or 65 years of age)

These are just some of the benefits Income Protection can offer you.

From our existing clients the reason they have this cover in place is that their income is their biggest asset and needs to be protected. Losing their ability to earn an income for their family is their biggest nightmare and in this case this to be protected.

Friends First is one of Ireland’s oldest and most established Life Assurance companies, meeting the financial needs of Irish customers since 1834, just one of the providers that Hennelly Finance can offer our clients.

Friends First paid out over €34 million in Income Protection claims in 2015, with average claims lasting 5.5 years. For further information on Friends First Income Protection Claims Statistics 2015