Income protection facts

01 April 2009
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The Facts

  • 1 in 6 of Irelands working population will be disabled for more than 6 months
  • The average claim duration is 5.5 years
  • Social Welfare disability allowance is just € 10,286 per annum for an individual
  • For a family with 1 adult dependant and 2 children this is just € 19,610 per annum
  • There is no Social Welfare benefit for the self-employed
  • Only 15% of private sector workers are entitled to sick pay for more than 6 months
  • Public sector workers receive full pay for their first 6 months of absence followed by half pay for the next 6 months
  • 36% of those surveyed mistakingly believe their salary is protected by other insurance e.g. Mortgage Protection, Loan Repayment Protection and Critical Illness cover*
  • However, less than 10% of the Irish Workforce have any form of private salary protection
 

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