Income Protection

Your income is one of your most important assets, yet many do not insure it.

An Income Protection policy can help to protect your lifestyle by limiting the financial consequences of suffering an illness or injury which prevents you from working.

Protecting your income is probably not the first thing you think

about when planning your financial future. It’s more natural to focus on the tangible things in life like buying your first home, saving for college education, or planning for retirement. But interestingly, these all have one thing in common –money.

The money you earn through your salary funds everything,

from your daily household expenditure, right through to your dreams and passions.

Many of us are aware of the risk to our salary through redundancy – it’s one of those concerns we’ve all grown up with.

But most people who lose their job through redundancy reset and find something new – so perhaps their finances are only thrown off kilter for a short-period.

But what happens in scenarios where you get sick or disabled? This can have far more wide reaching consequences – an illness might not be short-term and could have the effect of putting your entire financial future in jeopardy.

State Illness Benefit is just €254 per week – far short of covering most mortgages

That’s why we believe that Income Protection is so important.

It’s an insurance policy for your finances and it protects your financial future should you be unable to work due to illness or disability. It’s there not only to protect the big things, but also to make sure that you can continue to enjoy the lifestyle you are used to today and one to look forward to in the future.

We are all aware of how much we rely on our income. But what happens to your income in those scenarios where you get sick or injured? Have you made plans to protect yourself and your dependents if you are unable to work due to illness or injury?

If you are unable to work and not in receipt of any income,

this could have far-reaching consequences for your financial needs.

That’s why an Income Protection plan is so important. It pays you an income if you are unable to work and not in receipt of an income.

Think of it as an insurance policy for your finances which can help

protect your financial future.

A safety net for your income

While you’re healthy, you pay a premium every month, or each year if you prefer. If you are unfortunate enough to fall ill or become injured and are unable to work during the term of your plan, you may be eligible to make a claim and receive a monthly income until you are well enough to work again.

Hope for the best and plan for the worst. Your health is your wealth.

To find out more about how to protect your income and receive an

income protection quotation please do not hesitate to contact a member

of our advisory team at Jim@hegarty.ie, Niamh@hegarty.ie, Frank@hegarty.ie & Ross@hegarty.ie or alternatively you can call the office directly on 01 4972544.

Hegarty Financial Management 40 years caring for our clients financial wellbeing.