Income Protection

Income protection is an insurance policy that pays out a regular cash payment that replaces part of your lost income if you are unable to work due to a medium to long-term illness or disability. It is not the same thing as private health insurance.

  • The replacement income starts paying out after a certain period of time. This is called the deferred period.
  •  A maximum of 75% of your salary can be paid out by the insurance policy.


Are you eligible?

To obtain this insurance cover, you must be in full-time paid work or be self-employed. Protection of your income is something that is very important as it provides financial support should health take its toll. You can also claim back tax on your protection premium.


Do I need Income Protection?

You may need income protection if you:

1. Are self-employed and would have no source of income if you couldn’t work due to illness or disability.

2. Have little or no sick pay from your employer.

3. Have no ill-health pension protection.

4. Have dependents who rely on your income.

5. Have no other source of income.

6. Do not have sufficient benefits to replace your lost income and/or cover your expenses.


> How much cover can I get?

> How much does it cost?

> What additional benefits are there?

Income Protection
  • Executive Income Protection

    For employers who wish to provide income security for key employees.

  • Personal Income Protection

    For the self-employed or those (in employment) who are setting up a policy independently of their employer.

Understand your policy

As there are many options to this policy, it is important that you speak with a Smart financial adviser to make sure that you fully understand the policy and that you avail of the right type of cover that suits your requirements.


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e.g. €40,000
Select 'Smoker' if you have smoked tobacco products in the last 12 months.
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