Benefits Of Wage Protector

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Contact us today and book your consultation and see how Quigley Financial Brokers can help you choose the best options available or contact richard@quigley.ie for further information.

What if you were to have an accident or long-term illness that prevents you from earning a living?

What is Wage Protector?

An everyday essential that works when you can’t. It’s designed specifically for workers in riskier jobs who are generally more expensive to insure, such as construction workers, electricians, plumbers, mechanical engineers and the self-employed.

Here are some of the benefits;

Max Benefit

Pays up to 75% of your salary.

Deferred Period

Choice of 4, 8, 13, 26 or 52 week option.

Maximum Term

Choice of ceasing ages: 55 to 70 years of age.

Hospital Cash Benefit

The policyholder receives an income equal to 1/365th of the annual benefit if they are in hospital for over 7 days during the deferred period.

Tax Relief on Premiums

Available at the policyholder’s marginal rate of tax.

The product is divided into two types of cover:

Transition Cover

This cover kicks in after your chosen deferred period and pays you a replacement income for 24 months if you are unable to do your own job. This gives you an opportunity to get back on your feet or prepare for an alternative job. After this initial period, depending on your circumstances , full disability cover may apply.

Disability Cover

This cover will apply if you are unable to return to any work due to significant illness or injury and suffer a loss of earnings as a result. You must pass a Functional Assessment test to qualify for this cover. This is simple, easy to understand set of physical and mental ability tests.

Contact us today and book your consultation and see how Quigley Financial Brokers can help to protect your income.