If You Cant Work

Who’ll pay the mortgage / rent and bills if we cant work?

It’s critical for most of us to have a steady income to pay our bills. Our mobile phones are also important. If we lose or damage our phone, we’re on the lookout for a replacement in minutes. Hundreds of thousands of people in Ireland have insurance coverage on their phone so that replacing it doesn’t break the bank.

When it comes to our Incomes, we are not as quick to safeguard this critical resource. Many things could come to a halt if it is lost, including the payment of that essential mobile phone contract!!

Unexpected Events

How would you pay your rent or mortgage, as well as childcare and other bills if you were unemployed due to a disability or injury caused by an accident or a lengthy sickness?

If you’re eligible for Social Welfare, it may cover some of your expenses (self-employed people are not, for example), but you’ll almost certainly have a deficit in your earnings. Will your employer continue to pay you if you’re away from work for an extended period of time?

Continuing costs regardless

If you don’t have enough money to pay for all of the potential expenditures, then think about whether your household could manage them without your income. Here are a couple of examples , but you’ll know many more:

Income protection insurance is a Tax-advantaged service in that your marginal tax rate benefits from the premiums you pay. As a result, income protection insurance may not be as pricey as you believe it is.

Income Protection

In the case of a claim, Income Protection insurance may provide monthly payments up to 75% of your income (including state benefits) in the event that you become disabled, injured or sick.

Tax relief at a higher rate of tax is available for the expense of income protection, making this an even more attractive safety net for self-employed individuals.

There are certain timeframes in which you must be away from work before your payments start, as well as how long your payments will last.

Testimonials

What They Say

Riordan Financial

4.8

Kieran Hickey

Maurice, Shawn and Bernard have an excellent way of communicating, what for me, is a confusing world of Pensions and investments. Really enjoy meeting up with them to review our portfolio. They take the time to learn about our personal situation, what we would like to achieve from our investments and then advise us accordingly. They don't just try to sell us a product. Continued success to Riordan Financial.

Seamus Murphy

I have dealt with Maurice in Riordan Financial for a number of years and can only give him and the team the highest praise for their service and attention to detail. Both from a personal and business perspective the team have the expertise to answer any questions you may have. All options are usually laid out and you are given the pros and cons of each to make an informed decision rather than a biased sales person forcing your hand. Keep up the good work all in Riordan Financial.

Elaine White

Riordan Financial guided us through a full financial review, a step by step review that was easy to understand in the comfort of our own home. They helped us prioritise areas of our finances that needed attention in the short term, while planning for the long term.

Kieran Mullally

Great company providing excellent up-to-date expertise. Staff especially Bernard is fantastic at what he does and offers us the best in our pension and investments.

Maria Clifford

I’ve dealt with Riordan Financial for a number of years and I’m delighted with the service. Thank you to Bernard and his colleagues - prompt professional and expert advice always.