What is occupation class?

Insurers group occupations into classes 1–4 reflecting injury and illness risk. Class 1 desk-based professionals get the lowest rates; class 4 heavy-manual trades pay the most and have a smaller pool of insurers willing to quote.

What deferred period should I choose?

Match it to your savings buffer and any sick-pay arrangement. Self-employed people commonly choose 13 or 26 weeks. A longer deferred period materially reduces the premium.

Guide · Self-employed

Income protection for the self-employed in Sligo, Mayo and the West.

The self-employed have no employer safety net and limited State Illness Benefit. IP fills the gap — and the real cost is far below the headline number once you net off tax relief.

Income Protection — Net-of-Tax Estimator

IP premiums attract tax relief at your marginal rate. The figure that matters is the net cost.

Gross annual income (€)

Self-employed: use net trading profit before tax.

Benefit % of income

Maximum is typically 75% less State Illness Benefit.

Deferred period (weeks)

Longer deferred period = lower premium. Match it to your savings buffer.

Occupation class

Higher classes pay more — fewer insurers will offer cover.

Marginal income tax rate (%)

Most full-time professionals are at 40%. Tax relief is automatic via payroll or annual return.

Annual benefit

€36,000

Gross monthly premium

€50.40

Net monthly cost @ 40%

€30.24

Indicative only. Premiums depend on age, smoker status, BMI, medical and occupation underwriting. Tax relief is granted at your marginal rate by Revenue.

Occupation class realities

A software developer (Class 1) and a roofer (Class 4) face very different premiums for identical cover — and a different number of insurers willing to quote. We flag which insurers typically quote for your occupation before introducing you to an advisor.

Deferred period pricing elasticity

Moving from a 13-week to a 26-week deferred period typically cuts the premium by 15–20%. From 26 to 52 weeks, another 15%. If your business or savings can carry six months, the cost can fall meaningfully without reducing the underlying cover.

Tax relief at the marginal rate

IP premiums attract income tax relief at your marginal rate. For most full-time self-employed earners that's 40%. The estimator above shows both the gross premium and the net cost — the second number is what actually leaves your account.

Frequently asked

Yes. Premiums for an Irish-tax-relieved IP policy attract income tax relief at your marginal rate, up to a cap of 10% of total income. The benefit, if claimed, is taxable as income.