At What Age Should I Get Income Protection Insurance in Ireland?

The earlier the better, is our norm.

Getting an income protection plan in the late 20’s and early 30’s makes the premium cost pretty affordable. People are usually much healthier at this stage, and medical exclusions in the policy are rare.

It may look like a younger person taking a policy will be paying the premiums for a longer duration. The comparison of actual cost with tax relief, indeed shows the the total cost of the plan is nearly the same or cheaper for a mid-20s individual when compared with a person entering the plan in mid 40s. Hence there is no actual monetary benefit in prolonging that decision to have income protection! In reality, the risks of not qualifying for a plan are greater in later life.

Read more:

1. 1. Is Income Protection Suitable for All People?
2. 2. What Makes Serious Illness Cover a Good Idea?
3. 3. Who Requires Critical Illness Coverage and Serious Illness Coverage?