PHI Information

Secure your Income

Your income pays for everything.

If an accident or illness prevented you from working, how long could you cope financially?

How would you pay these normal household bills without an income?

The state benefit for an individual is €188 a week  and if you are self employed, you are not entitled  to anything!

How long would €50,000 last?

17 Months Based on monthly outgoings of €3,000

What are the chances?

It is easy to think that ‘it won’t happen to me’, but below we highlight a number of statistics that you may find surprising. Illness or injury can happen at any time.

•  One in three people in Ireland will develop cancer during their lifetime.*
• An estimated 30,000 people are living in the community with disabilities  as a result of a stroke.**
• While Life Cover pays out after you die, Specified Illness and Income Protection cover pay you while you are living. You need the benefit of financial assistance at these difficult times, which is why they are often referred to as living benefits.
• With medical advances, people are more likely to survive serious illnesses but this means that more people are likely to take prolonged periods off work for treatment and recovery. This could have a huge impact on their ability to earn.
• Even for those who have savings in the bank, a long term illness or period of time out of work could mean real financial hardship without a plan to replace earnings.

Claims portfolio by disability at year end 2015

Income Protection from Friends First provides income security in the form of a replacement income if you were unable to work due to illness or injury.  You can also avail of tax relief at your marginal rate.  Can you afford to be without it?

Claims Statistics

• Friends First paid out over €34m in      claims in 2015
• 48% of claims last longer than 5 years

* Irish Cancer Society, Central Statistics Office, June 2013

** Irish Heart Foundation, April 2016

Friends First is part of Achmea
Friends First Life Assurance Company dac is regulated by the Central Bank of Ireland