What is an Income Protection Plan ?
An income protection plan is a simple, tax efficient cover that aims to protect your income in the event of long term illness or disability. Income Protection  provides you with an alternate source of ongoing income of up to 75% of your normal salary (including any social welfare benefits and early retirement pension). The income provided under the Plan is generally designed  to commence as soon as your entitlement to an income under your Sick Pay scheme ceases.

The income is payable throughout the period disability to a maximum of age 60 or 65.
 
Benefits of having an Income Protection Plan
Learning to cope with a long term illness or disability is a major stress in it's own right. Maintaining mortgage repayments and household bills on a reduced income can only add further to this stress. With Income Protection you remove much of the financial stress allowing you to concentrate on adapting to cope with your disability/illness.
 
Tax Relief:
Income Protection premiums qualify for tax relief at your marginal rate thereby significantly reducing the cost of cover.

 
Benefits for SIPTU Members

  • Group Schemes
    By joining a SIPTU Group Income Protection Scheme you can avail of a significantly discounted rate of premium for the cover provided. In addition, in most cases premiums can be paid via salary deduction thereby removing the inconvenience of having to apply to your tax inspector for tax relief. Members may also apply for a preferential application process with reduced medical underwriting.

  • Individual Policy
    If no Income Protection scheme exists in your sector you may apply for a personal Income Protection Policy and qualify for a premium discount in your first year’s premium.


Individual and Scheme Plans
Our team at JLT are specialists in the area of Income Protection Plans for both individuals and schemes. We have designed and administered schemes for SIPTU since 1998 in the Transport sector and more recently in the Health sector. “Our Strength is in working with SIPTU to negotiate the best possible terms with insurers and to help promote the benefit to members of protecting their income against the worst effects of long term illness or disability”

Making a Claim
Of paramount importance is our oversight of the efficient and fair handling of the claims process. Our objective is to work with the claimant to ensure a stress free claim experience.

What do you do next?
If you would like more information on our scheme or individual options please contact our team directly on 01-202 6002.

JLT Insurance Brokers Ireland Limited trading as JLT Ireland is regulated by the Central Bank of Ireland. Terms & conditions apply.

www.siptu.jltonline.ie


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