Income Protection – New Ireland
Income Protection Insurance from New Ireland is designed to replace up to 75% of your regular annual income, if you’re unable to work due to an accident or injury. You can also reduce your quoted discounted premium up to a further 40%, through premium tax relief. This policy comes with a host of great features as standard, see below to find out more.
Standard Features & Benefits
Automatic Waiver of Premium
You will not have to pay your premiums while you are receiving an income benefit. During this time, your policy continues as normal, so that if you do return to work and at some stage in the future need to claim again your plan has continued unchanged.
Hospital Cash Benefit
A daily replacement income is paid if you are in hospital for more than seven days during your deferred period and for a maximum of 90 days.
Back to Work Benefit
The Back to Work Benefit will help with your finances when you return to work after a minimum period of one year. You’ll get 50% for the first month back to work and 25% of the income protection benefit in the second month.
Confirmed Income Option
If you select this option and your income falls during the term of your proposal, New Ireland will pay you the higher amount agreed at the outset should you need to claim.
Essential Activities Benefit
Unlike many other providers who refuse to pay out if you are unemployed at the time of claim, we will consider you under our Essential Activities Benefit, which will pay you an annual amount of 15,000 a year should you meet certain criteria. Your premium will reduce in line with the reduced benefit. If you return to full-time employment within 12 months, you can re-instate your income protection benefits without having to provide new medical evidence.
No Hidden Exclusions
If you return to work part or full-time either in your old job or a new career, and your new earnings are less than previously earned, you may be eligible to receive a partial benefit.
Should you wish to protect the value of your benefits, during your policy term whether in a claim period or not, you can add inflation protection. Should a claim occur your premiums payments are covered and your benefits continue to increase.