How Income Protection Insurance Works in Ireland: Get Yours Before You Need It!

Having an insurance policy can be a great way to protect yourself against financial loss. While health and car insurance are the most common types of policies, they’re not the only ones out there. One such policy is income protection insurance, which provides protection against the loss of income caused by illness or injury. This type of insurance works by paying out monthly benefits that replace your salary if you can no longer work due to illness or injury. The best part? You can get it before you need it—and at a lower price than you’ll find later on!

Do Not Wait Until You’re Injured or Sick

You can get income protection insurance when you are healthy, sick, injured, or pregnant. In fact, you should get it before any of those things happen.

You see, if you wait until the time comes that your income is needed and then have to scramble around to find cover—well, good luck with all of that! The best time to start looking at what options exist for protecting yourself against loss of income is now.

Why Income Protection Insurance May Be a Better Option Than Health Insurance

As you can see, health insurance does not cover you for all the things that might lead to you being unable to work. If you have a physical ailment or an injury that prevents you from working, but it doesn’t require medical attention, then health insurance won’t come into play. That’s where income protection comes in—it provides both financial compensation and access to medical care should serious illness or injury prevent one from working for a period of time.

Because of these added benefits (and because Ireland is one of Europe’s most expensive countries), some people find income protection is better than health insurance when it comes to protecting themselves against financial loss due to illness or injury. It may also be easier on your budget: while there are some low-cost options available if you’ve got a pre-existing condition, they’re usually limited in scope (for example, they only cover hospital visits). If this applies to your situation and limits what type of policy works best for your needs then switching over might be worthwhile!

What They Won’t Tell You About Income Protection Insurance and Why

Another thing they won’t tell you? The importance of keeping your cover up to date. After all, it’s not uncommon for people to think they don’t need income protection insurance anymore once they’ve been in their jobs a while or retired. But that’s simply not the case. In fact, if anything, it’s even more important after that point because there are so many things that could happen in the future—from an injury on the job or operation complications through to a serious illness or death of a loved one—that would leave you unable to work and unable to support yourself financially if this happened unexpectedly. And since these events can occur at any time without warning, you need insurance in place before something happens so that you have financial security as soon as possible afterwards instead of scrambling around trying to get cover then!

How to get the Best Price for Your Cover

As with any insurance policy, the best way to get the best price is to shop around. You might be surprised by how much you could save by shopping around for your income protection insurance.

In order to get quotes from different companies, you need to fill out an application form and then choose which insurers you wish to compare your quote against. If a company asks for any medical information on their application form, check with your doctor first before completing it.

When getting quotes from different companies, make sure that you:

  • understand the terms and conditions of each policy; and
  • ask about any exclusions or limitations that may apply in certain circumstances (e.g., if they don’t cover workplace injuries). You can also ask them how long it will take for them to pay out once they receive proof of an injury claim as well as how long it would take them before they stop paying if they were validly claiming that they couldn’t find work due being injured off-job).

It’s in your best interest to secure some form of protection as soon as possible.

Income protection insurance is an insurance product that protects your income if you are unable to work due to sickness or injury. This can be a useful way of protecting yourself, but it’s important to make sure that you have the right cover in place before any health issues arise.

Income protection comes in two main forms: short-term and long-term. The former covers temporary periods of illness or injury, while the latter covers more permanent conditions such as heart disease. Both types allow for tax relief through their premiums. As well as this, many providers offer enhancements that can help protect against further financial setbacks such as loss of rental income or mortgage arrears if you’re unable to pay bills on time as a result of being sick or injured (this is called “reinstatement”).

It’s in everyone’s best interest to secure some form of protection as soon as possible; not only does this ensure that someone will be financially protected if they fall ill, but it also ensures peace of mind during times when they may need help with their finances anyway!


It can be difficult to know when the right time is to get income protection insurance, but if you wait until after an accident or illness has hit, you may find yourself without any coverage at all. If you want to ensure that your family is taken care of financially in case something were ever to happen, consider getting some form of protection now before it’s too late!