Live Life Like There’s Always A Tomorrow

When your world turns upside down…

ou can never know what lays around the corner, from a nail that might burst your tyre to a hedge just waiting to say hello…

What you can know is how to prepare for any bad luck that might come your way.

Whether that’s a spare tyre, or even a little income protection, the latter something Paul Neale and the gang at Bray’s Financial Equality Services know all about.

Take it away, Paul…

What if you were unable to work?
What if you were to have an accident or long-term illness that prevents you from earning a living? Your employer may continue to pay you for a period of time but for how long?

That’s where income protection comes in. It gives you an alternative income while you’re unable to work due to illness or injury.

It means you can keep on top of the bills that matter; mortgage payments, car loans, food bills, rent and more – allowing you to focus on your recovery when money worries should be the last thing on your mind.

How does Income Protection work?
Watch this short video below on how it works:

You can cover up to 75% of your salary to a maximum benefit amount of €262,500 when you’re off work due to illness or injury – (less any social welfare payments) either until you return to work or your chosen retirement date if you’re not fit to return to work before then.

⦿ You pay a monthly premium based on your occupation and health status

⦿ If you are unable to work due to illness or injury, we will provide you with a
replacement income until you return to work, or until your chosen end date

⦿ When taking out your policy, you choose the expiry age that best suits you

⦿ You can select any age between 55 and 70, this is when your cover will end

⦿ Many people will choose an expiry age to coincide with their retirement age

There is no restriction on what you use the income protection benefit for. It’s there to support you financially, however you need it.

The premiums you pay are eligible for Tax Relief. This can reduce the cost of your cover by up to 40%, if you pay income tax at the higher rate.  You must claim the tax relief from the revenue.

You can find out more about Financial Equality Services here, check out their mortgages here, pensions here, income protection here and investments here. You can also follow on Instagram here and LinkedIn here, or get in touch directly on email here or by phone here.