How to compare and apply for income protection on
Theo Wooster

Comparing income protection products can be confusing, but we’ve made the process simple and straightforward in this guide.

Income protection insurance is not as widely known as other forms of life insurance cover, however, it can be an amazing safety net in the event you cannot work due to illness or injury. Unlike savings or social benefit, it will continue to pay until you can return to work.

Due to the lack of awareness surrounding income protection, you may find comparing potential policies daunting. 

The good news is that comparing income protection policies is easy on!

This is the second guide in our seven-part series on comparing and applying for income protection insurance.

In this guide, we outline the steps involved in using our comparison tool so you can apply for income protection cover with ease.

Step 1 - Input your gross salary amount

The first step towards getting your new income protection policy is to input your gross salary. 

Your salary is a key determinant of how much cover you need, and therefore the price of your premium, so this is important to get right! Your policy will cover 75% of your income, minus any state benefit. 

This figure is your total earnings from your job. This does not include any money earned from savings, pensions or property investments. 

Step 2 - Tell us about yourself

After you’ve told us your gross salary, you’ll need to give us a few more details about yourself.

To calculate your quote accurately, we need to know:

  • Your date of birth
  • Your retirement age:
    Your income protection cover can last until you retire. Therefore, stating your retirement age will allow the insurer to know how long you intend to be covered, and the length of time you will pay a premium.
  • Whether or not you smoke:
    Select 'yes' if you have consumed any tobacco, e-cigarettes, nicotine replacement products or vapes in the last twelve months. Smoking impacts the cost of your premium by 50%, due to the associated health impacts, so is an important piece of information for the insurer.

Step 3 - Optional extras

Once you have filled in your personal details, you’ll be given the opportunity to add additional benefits to your policy such as:

Indexation: This gives you the ability to increase your income protection cover in line with raising inflation. This optional extra will add an extra 3% to your cover annually. However, this benefit must be added on before you take out your policy, it can not be added on once your policy has been issued.

Escalation of claim: Escalation in claim is another form of protection against rising living costs. Unlike indexation, this kicks in once you are claiming money from your insurer.

If you are out of work for more than a year, the amount you are paid will increase by an agreed amount, to help you cover rising living expenses. 

You have the option of selecting one, both, or none of these additional protections.

To learn more about escalation of claim and indexation, check out our guide on things to consider when taking out income protection insurance. 

Step 4 - Review your results

After filling in these basic details, simply hit the ‘Compare Income Protection’ button to be taken to the results page.

Here you will be shown your results by monthly premium, either in ascending or descending order. 

Policy assumptions

It’s important to note that the quotes provided to you on the results page were made under the assumption that: 

  • Your occupation falls under the Class 1 risk factor category 
  • Your deferral period is 26 weeks 

If these assumptions do not reflect your personal circumstances then your quote will be subject to change. 

Filtering your results

You can easily filter and update your results by adjusting:

  • Your gross salary amount
  • Your retirement age

Or  by adding:

  • Indexation 
  • Escalation of claim

These filters can be found on the left-hand side of the results page. 

Policy features

​​For a full outline of a plan, simply click ‘see details’ and you’ll be brought to the policy’s page.

Different policies may come with different features and perks. 

For example, some insurers offer a ‘Back to Work Benefit’, that will give you financial support when you return to full-time work following a long-term claim. Insurers may also offer a ‘Linked-Claims Benefit’, which waives your deferral period if you relapse within six months of returning to work.

However, it is important to remember the fundamental purpose of income protection when comparing policies. 

The ability to have affordable premiums that fully cover your income is more important than any additional benefits offered by insurers.

Therefore, while extra benefits are tempting, you should always consider the amount of cover, and premium affordability, before deciding which benefits you prefer.

Step 5 - Select your policy and apply online

Once you’ve found the policy that best matches your needs, click on the ‘Apply now’ button.

Your details
To proceed with your application, we’ll need some details from you:

  • Your name
  • Your address
  • Your contact information

Your circumstances

We will need to know some information about your financial circumstances. This is needed to get a true and complete financial picture so that we can provide appropriate recommendations and advice for your financial needs. 

This is required by The Central Bank of Ireland.

We’ll need to know:

  • Whether you’re in good health: Answer yes or no
  • What your marital status is: Select an answer from the list
  • Your occupational details: Tell us your employment status, job and industry

Your occupational details 

It is vital that you fill in this section as accurately as possible, because it is one of the biggest deciders as to whether you’ll receive cover or not, and the premium you’ll pay.

If you have a job with high risks associated with it, such as Heavy Goods Vehicle  (HGV) driving, mining, or construction, you may be rejected by the insurer. 

On the other hand,  if you have a low-risk job, such as desk-based work, your premium will be significantly lower. 

You will need to select the job you do, and the industry you work in.

Step 6 - Submit your application

The hard part is over! 

Before submitting your application, you’ll be asked to select a preferred callback time from one of our qualified insurance brokers to discuss your application.

You must agree to the declarations and terms and conditions. Then finally, it’s time to submit your application.

What happens next?

After you submit your application, one of our qualified insurance advisors will phone you to confirm your medical history and answer any questions you may have about the policy you’ve selected. 

The call will last approximately 10 minutes.

Our expert advisors will help guide you through the application process and will liaise with the insurance provider on your behalf. 

They’ll be with you every step of the way until your policy has been issued.

Get income protection insurance with

Now that you understand how easy it is to get cover online through our experienced team of insurance advisers, head over to our income protection comparison page, and get a quote from Ireland’s leading insurers in minutes.

You can also easily get a variety of other insurance products on, including mortgage protection insurance, life insurance, and home insurance

Don’t forget to review other everyday household bills too and compare available deals for energy, broadband, and banking products to see how much you can save. 

Take a look at our other income protection guides

If you found this guide helpful, make sure you check out the other income protection guides in our series. You may be interested in the following:

You can keep up to date with our insurance-related news on our blog and guide pages. 

Any questions?

If you have any questions about any of the points discussed in this guide, or about income protection in general, contact our team today on Facebook, Twitter, or Instagram.