Compare Income Protection Quotes

Income Protection Quotes

    Get your best value income protection quotes with our free online income protection insurance quotes comparison calculator. We compare all Irish insurer income protection quotes, highlighting your best cover at the cheapest price. Get added discount and qualify for up to 40% discount through PAYE tax-relief, simply run your quotes below!

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Compare income protection insurance quotes with Ireland's most comprehensive income protection quotes comparison calculator.

Income protection gives you peace of mind that you'll receive a regular income if you can't work, do any illness, accident or disability.

Our free easy to use income protection quotes calculator lets you easily compare quotes from all of Ireland’s leading income protection providers, including; New Ireland, Royal London, Irish Life & Aviva.

Whether you're employed or self-employed, we can help you find the lowest cost and most comprehensive income protection quote to meet your needs.

We are a regulated financial broker meaning that you’re fully assured that our information is up-to-date, accurate and reliable.

Income Protection Quotes – Frequently Asked Questions

What is income protection insurance?

Income Protection Insurance is an insurance policy designed to help replace your income due to any illness, or injury preventing you from being able to work, for a prolonged period. The maximum cover level permitted is 75% of your regular annual income, less the state disability benefit, where you’re entitled to this benefit as an employee or as a self-employed individual in Ireland.

Who is eligible for Income Protection

You must be in full-time paid work as a self-employed person, or as an employee or company director to qualify for Income Protection and to receive benefits in the event of a claim.

How much income can I protect?

The maximum that you can cover yourself for is 75% of your income less any social welfare entitlements (currently €10,561 per annum). Note if you are self-employed or a company director you may not be eligible State Illness Benefits.

There are some limits which vary slightly across life companies; but typically cover 75% of the first €350,000 of your earnings per annum (excluding benefit-in-kind), less state disability benefit if applicable, subject to an overall maximum of €262,500.

What income counts?

Income must be earned income, so you cannot include rental income or dividends for example. It is important to get this information right during your application for Income protection, as you might be paying for more protection than you are entitled to at claims stage.

How does the premium tax relief work?

The premiums you pay on your income protection policy attracts tax relief at your marginal rate. Let’s say you earn €60,000 per annum and your marginal tax rate is 40%. Your quote comes out at €100 per month (gross) but the policy actually only costs you €60 per month (net).

Should I choose guaranteed or reviewable premiums?

Our quote system allows two rate options: (1) Guaranteed rates (2) Reviewable rates. The Guaranteed rates option will ensure that your premium will not change during the term of the plan (unless inflation protection is chosen). Reviewable rate policies will start at cheaper but will be reviewed on the fifth anniversary and every five years thereafter, meaning increases may or may not occur.

What is ment by the deferred period?

The deferred periods are 4, 8, 13, 26 and 52 weeks. The deferred period is the time between when you are injured or fall ill and when the policy will commence payment. The longer the deferred period, the lower the premium. Think about how long your savings, or if applicable your employer provider sick pay would cover for expenses when deciding on the deferred period to choose.

How does occupational risk come into it?

When getting an income protection quote, your occupation is very important as some occupations will not be covered due to the nature of their work. Below is a table that will give you a good idea of what class your occupation falls into but it is not the definitive guide as there are some small differences between the various life companies.

Class 1
White-collar occupations: no appreciable accident or health risk. These occupations will usually be office-based. Examples include: Accountants, GP’s, IT Consultant, Solicitors, Administrators, etc.

Class 2
Mainly white-collar and predominantly administrative. Driving may be involved. Examples include: Quantity Surveyor, Dentist, Sales Rep, etc.

Class 3
Skilled occupations, which may involve light manual duties but heavy lifting is rare. Examples include Interior Decorators, Foremen, Electrical Engineers, and domestic Electricians, Nurses etc.

Class 4
Skilled tradespersons, working on construction sites using light power tools. Examples include Carpenters and Plumbers.

How many times can you make a claim?

You can submit claims on your Income Protection policy as many times as you require benefits, right up to the end of the policy term.

Can I also protect my pension contributions?

Pension contribution cover is only available on executive income protection plans for company directors subject to a limit of €40,000 per annum.

What happens if my salary increases?

Some companies, such as Friends First and Royal London, have an automatic benefit on their policies which allows you to increase the cover on your policy by a certain amount (20% of the original cover every three years) without having to provide evidence of health. This is optional. The premium will be revised accordingly at the time. This option may be exercised up to five times. If the increase is declined more than once when offered, it will not be offered again.

You can also select Inflation Protection when running your quote. This means that your benefit will increase by 3% each year and your premiums by 3.5% in conjunction. This can help ensure that your benefit automatically stays in line with any salary increases and with inflation and that if a claim occurs your benefit payout will also increase by 3% per annum.

Why choose OneQuote.ie to compare income protection insurance quotes?

Comparing income protection policies is easy with onequote.ie, you just fill in some simple details such as your age, your annual salary, and your policy term and our online comparison service we’ll compare policies from all of Ireland’s main providers to produce your best value quote in just seconds. All Income Protection Quotes we provide include free advice, easy online application and the best price guaranteed.

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