Income Protection / Permanent Health Insurance

An Income Protection Plan is a way for you to guarantee yourself an income in the event of being unable to perform your own occupation due to long-term illness, injury, accident or disability.

Without earnings / salary, it may be difficult to afford medical treatment and pay for all the day to day expenses we all take for granted. You and your family’s standard of living would suffer greatly. You would be forced to abandon any long term financial plans and may be forced to sell any existing assets.

WFSL believes that an Income Protection Plan is the most comprehensive cover available for loss of income due to illness, injury, accident or disability. It is extremely valuable cover to have as the following illustration shows:

Example:

John is 40 and earns €52,000 per annum. He takes out an income protection plan to age 65 covering 75% of his earnings* to increase each year by 3% p.a. If John suffered a serious illness and was unable to perform his own stated occupation again the actual gross capitalised level of cover could amount to €1,421,911. This represents starting cover at €39,000 p.a. increasing each year by 3% over 25 years.