Once we have a detailed overview of your financial circumstances, we will analyse what’s on offer and advise you on how much income protection you should have in place.
Sarah (27) is a receptionist and earns €28,000 per year. She also smokes cigarettes.
How much income protection can she get and how much will it cost her?
Answer:
Sarah can get cover for 75% of her income less State benefits (€9,776 per annum) which equates to a need of €11,224 required in Income Protection for her at a cost of €21.42 via monthly direct debit.
However, she can get tax relief of approx. €4.28 per month.
So, this level of cover – €11,224 – is costing Sarah just €17.14 per month. That’s €3.95 per week for her peace of mind.
