The cost of a FriendsFirst Income Protection plan depends on the option you choose, your age, occupation and health. It is very easy to fit a plan into your budget that you can review as your circumstances change.
Example 1
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Philip is a Civil Engineer currently earning € 50,000 per year and is 30 years old. He has chosen to protect 50% of his salary i.e. € 25,000 per year until his retirement age of 65. He selects a 6 month waiting time and chooses to index link his premiums.
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| Now consider this.... | |||||||||
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If Philip were to claim on his policy in 2 years time (aged 32) and his claim lasted for the average duration of 5.5 years, we would pay him over € 156,259 in benefits. If he were unable to return before retirement, then over that 35 year period we would pay him a total benefit of € 1,460,000. | |||||||||
Example 2
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Peter is a 35 year old Sales Representative currently earning € 72,000 per year. He has chosen to protect 50% of his salary i.e. € 36,000 per year until his retirement at age 65. He selects a 6 month waiting time and chooses to index link his premiums.
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| Now consider this.... | |||||||||
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If Peter were to claim on his policy in 2 years time (aged 37) and his claim lasted for 5.5 years, we would pay him over € 224,000 in benefits. If he were unable to return before retirement, then over that 28 year period we would pay him a total of € 1,639,636 in benefit. | |||||||||
Example 3
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Jack is an Accountant currently earning € 85,000 per year and he is 40 years old. He has chosen to protect 50% of his salary i.e. € 42,500 per year until his retirement at age 65. He selects a 6 month waiting time and chooses to index link his premiums.
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| Now consider this.... | |||||||||
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If Jack were to claim on his policy in 2 years time (aged 42) and his claim lasted for 5.5 years, then we would pay him over € 265,513 in benefit. If he were unable to return before retirement, then over that 23 year period we would pay him a total benefit of € 1,463,000. | |||||||||
Are you starting to realise the value of Income Protection?