Your ability to earn an income is your most valuable asset. Without it, unfortunately, everything stops.
Your income pays for your mortgage, your car, your bills, your shopping, for everything around you. That’s why it makes so much sense to protect it.
Income protection is an insurance policy that can cover up to 75% of your normal income should something happen to prevent you from working as usual. It covers any injury, illness or accident and the policy benefits can be tailored to work alongside your employer’s sick pay benefits, if any.
We believe that income protection is one of the most important kinds of insurance cover you can have, especially if you are self-employed. That’s because self-employed person cannot claim social welfare payments should they become unable to work due to an illness or injury. It’s unfair, we know, but we have to work within those rules.
Pax Financial will find the right income protection plan for you and your circumstances. The policy will pay you a specific percentage of your income if you become unable to work due to accident or illness and continue to pay you until you return to work or you reach the agreed retirement age. You can cover up to a maximum of 75% of your salary, less the state disability benefit if you are entitled to it.
Your income protection premiums have full income tax relief which tells us that the government is encouraging people to take out these policies.