How Much Does Income Protection Cost in Ireland?

How much is income protection? Income protection is a type of insurance that will pay out if you are
unable to work due to illness or injury. The premium rate depends on
many factors, including your age and medical history, but also the term
(length) of cover you choose. The longer the plan lasts, the higher its
monthly cost will be so it’s worth considering how long it could take
for an illness or injury to recover from before deciding on what level
of cover suits your needs best.

Age and Sex of the Applicant

One of the most important factors in determining how much an income protection policy will cost you is your age, as younger people are more
likely to be healthy. Older people have a higher risk of becoming sick
or injured, so they pay more for their policies. However, women
generally live longer than men and therefore have lower mortality rates
(and therefore lower premiums). On top of this, women are also less
likely than men to suffer injuries at work – which means that females
will generally pay less for their income protection cover as well–but
only if they don’t become carers!