Welcome to Heritage Alliance International

Income Insurance

Protect your earnings in the event of long term injury or illness.

Give yourself a little peace of mind with HAB Income Insurance. Income insurance also known as Income Protection, is a type of insurance that pays you a regular income if you can no longer work due to an injury or illness after a certain period of time, known as the deferred period (you can choose a period of 13, 26 or 52 weeks), for as long as you are eligible. It can be one less worry off your mind!

Protection products are provided by Irish Life Assurance plc.

Benefits of HAB Income Insurance

  • HAB Income Insurance helps to maintain the level of lifestyle which you are used to by replacing some of your earned income. This cover continues until the age of 65
  • Escalation (this is optional cover) – if we pay a claim for incapacity benefit, we will increase the incapacity benefit amount paid on the first and every anniversary of the date we start paying. The amount of the increase will be: the yearly rate of increase in the consumer price index for the last year; or 5%; whichever is lower
  • You may be entitled to tax relief on contributions
  • Cover continues, no matter how many claims you make
  • Additional Information about AIB Income Insurance
    • Available if you are between 18 and 54 years of age and in full-time employment or are self-employed
    • Only available if you are living in the Republic of Ireland
    • The maximum benefit payable is now €250,000 or 75% of total yearly earnings and benefits paid are less any State benefits or other income protection plans
    • We will deduct any continuing income from work including pension or benefit payments, but does not include investment income or children’s allowance and any regular payments from other income protection plan or similar insurance from the amount of benefit we will pay you
    • If you stop making your regular premium payments, you will no longer be protected and we will not return the premiums that you have already paid
    • The monthly premium is guaranteed to stay the same for the entire period that you hold the insurance policy  
    • If you are in hospital for more than seven days in a row during the deferred period, you may be able to receive hospitalisation benefit
    • You must tell us when an illness or an injury stops you working
    • HAB Income Insurance does not cover you if you become unemployed
    • At the time of a claim, your earnings must be above the level that justifies the amount of cover you have chosen. If not, you will receive a reduced benefit. In this case, we will not refund any part of the payments you have made
    • While you are receiving incapacity benefit, you must tell us if you plan to return to work part-time or to take up any other paid work. If you do not tell us, all benefit payments and cover under the plan will end
    • For full information describing the benefits and restrictions and exclusions, please read the HAB Income Insurance Guide and terms and conditions booklet