Income Protection in Ireland: A Comprehensive Guide

In this comprehensive guide to income protection in Ireland, we’ll take a look at what income protection is, how it works, and whether or not you should consider getting it. We’ll also examine some of the different types of income protection policies available in Ireland today—and why you should choose one over another.

How much income protection cover do you need?

When you’re looking for income protection, you’ll hear a lot about the minimum cover. This is the amount that the insurance company will pay out if you become sick or injured, and it’s usually between €10,000 and €12,000. While this might seem like enough money to live on while recovering from an illness or injury (and it might be), there are other things to consider when deciding how much income protection cover you need.

If your job requires frequent travel and long hours away from home each week–or if there are other demands on your time–then getting extra income protection could be useful. For example: if I were working as an accountant in Dublin at 30 hours per week with no dependants but without any paid holidays or sick days built up yet (in other words: starting from zero), then my weekly salary would be approximately €1120 before tax every two weeks; subtracting out child care costs would leave about €800/month left over after bills have been paid

What type of income protection policy is right for you?

The type of income protection policy that is right for you depends on your circumstances and needs. There are several different types of income protection policies, each offering different features and benefits.

The most important thing to consider when choosing an income protection plan is the level of cover it provides. This will determine how much money you receive as a weekly benefit in the event that you can’t work due to illness or injury (for example, if you broke a leg). The length and payment terms of your chosen policy should also be considered carefully as these factors can significantly affect how much money is paid out over time, so it’s important not get carried away by fancy bells and whistles – although those are nice too!

How much does income protection insurance cost?

The cost of income protection insurance depends on a number of factors. For example, the age you are when applying for cover will affect how much you pay.

Age is a significant factor in determining how much your policy will cost because it’s used as a benchmark against which other variables are measured. As such, premiums tend to be lower for younger applicants and higher for older applicants (although there may be exceptions).

Other factors that can influence the price include your occupation and lifestyle choices such as smoking status or level of exercise. If you have pre-existing medical conditions then this will also affect the price of an income protection policy since insurers will charge higher premiums for those who have chronic illnesses such as diabetes or heart disease than they would someone who doesn’t suffer from any chronic conditions at all

Who can get income protection in Ireland?

To be eligible for income protection, you must:

  • Be over 18 years of age.
  • Be a permanent resident of the Republic of Ireland.
  • Have been in full-time employment and earning at least €30,000 per annum for at least 12 months before applying for your insurance policy (this can include self-employment).

Are there any pre-existing conditions that mean I cannot get Income Protection Insurance?

You are not excluded from getting income protection insurance if you have pre-existing medical conditions. However, if your insurer finds out about the condition before they accept your application, they will be able to refuse to pay out on any claims that arise as a result of this particular ailment.

This means that if you want to buy income protection insurance and have a pre-existing health issue, do all of your research first so that when it comes time to apply for cover and disclose details about yourself (including any existing illnesses), there won’t be anything left unsaid!

What if I’m self-employed or unemployed and looking for work when I make a claim on my income protection policy?

If you’re self-employed or unemployed and looking for work when you make a claim on your income protection policy, there are some things to bear in mind.

  • You can claim for up to 12 months from the date of commencement of your policy.
  • In order to be eligible for payment under this option, the following criteria must be met: -You must have been employed at some point during the 12 months prior to making the claim; or -If self-employed, it must be shown that there have been substantial losses incurred as a result of being unable to work due to illness or injury (or death); and -The amount payable will be based on 3 times monthly income (up to maximum payout).

Income protection is important for anyone who has an unstable work history or current financial emergency.

Income protection is important for anyone who has an unstable work history or current financial emergency.

If you’re thinking of taking out income protection, there are many different types of policies available to choose from. The most common types include:

  • Short-term disability cover (typically between 6 months and 2 years) – this type of policy will help you with your mortgage payments if you’re unable to work due to illness or injury.
  • Permanent disability cover – this type of policy will provide a monthly benefit when your condition becomes permanent, regardless of how long it takes for the claim to be paid out


In order to get the most out of your income protection Ireland policy, it’s important to understand how it works and what kind of coverage you need. You can do this by reading through our guide above and making sure that your policy has all the features listed in it. If not, then you should consider getting another one!