You can receive up to 75% of your wages when claiming income protection insurance.
The amount of your wages covered depends on the terms of the policy. You can set it at 25%, 50% or 75%, or whatever level suits your income needs. The total amount of salary paid is also less any other scheme you can claim, such as illness benefit.
For example, you may have a monthly salary of €2000 and are entitled to €400 of government benefits. You can claim for your current salary less the benefits, €2000 minus the €400, or €1600, in other words.
If your income protection policy is for 75%, then you claim for 75% of the €1600, which is €1200. The amount claimed will be paid for the agreed term of your income protection insurance policy.
Before taking out income protection insurance, you must decide how much you need each month and how long you will need it.
Having a salary when you cannot work is the benefit of income protection insurance.