- If after the deferred period of 26 weeks you are still unable to work, a replacement income of up to 75% of your basic annual salary (inclusive of the State disability benefit payable to a single person) will be provided under the company’s income protection plan. The benefit payment is subject to satisfactory medical confirmation of your disability at that time.
- This benefit is provided by Irish Life Assurance plc. This benefit would be payable until the earlier of recovery, death or the attainment of age 65 and would increase at a rate of 3% per annum (compound), subject to Consumer Price Index (CPI) increases.
- The insurers of the income protection plan may reserve the right to request evidence of insurability in respect of part or all of your benefit and the cover may be dependent on the outcome of any such underwriting. You will be notified if this applies to you.
- Segment meets the full cost of this cover and premiums paid by the employer are not treated as a benefit-in-kind tax liability to the employee.
For any questions in relation to the Income Protection Policy please contact our local advisors Glennon Employee Benefits.
\ +353 (0) 1-7075880.