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Income Protection for Contractors

Have you got a plan in place to protect your income if you become unable to work? Learn about Income Protection insurance. We can advise you based on your personal set of circumstances.

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Income protection for ContractorsProtect Yourself

When PAYE workers become contractors they typically worry most about what would happen to their income in the event of their absence from work due to illness or injury. In the event of illness any money paid by the State in the form of disability would be nowhere near enough to cover your monthly outgoings.

There is however no need to get anxious about what might happen, the solution is to have a plan in place. We have a number of income protection options available to protect you, your income and your dependents.

What is Income Protection Cover?

Income Protection Cover provides you with a replacement income after a certain period of time if you cannot work as a result of an illness or injury.

You can protect up to 75% of your earnings and the benefit will become payable after a certain “deferred” period – this period can be anything from one day to 4/8/13/26 weeks depending on your personal circumstances.

What is Day One Income Protection Cover?

We are delighted to be one of the only advisors in Ireland with access to the exclusive “Day One Income Protection Cover”.

This cover will pay you a replacement income from the very first day of your absence from work so there is no deferred period. This covers minor conditions such as viruses, flus and short-term illnesses.


Death in Service

If you had employee-death-in-service benefits in the permanent job you left behind, you more than likely had this cover for up to 4 times your salary. Now that you are a contractor, it is prudent to consider replacing this essential cover to ensure the financial security of your dependents in the event of your premature death.

This cover will pay out a lump sum on your death to clear any outstanding debts, cover funeral expenses and most importantly provide an income to your dependents to replace your earnings

Personalised Service

Contracting PLUS, offers free financial reviews with our in-house financial advisory service CWM. They will help you devise a personalised policy to suit you and your family. Remember the premiums can be paid via your company and claimed as a legitimate business expense.

Tax Relief

Income Protection Premiums are subject to tax relief so this greatly reduces the cost to you the contractor.


It all starts with a conversation so contact your Contracting PLUS Dedicated Account Manager today to organise your free financial review with our Income Protection advisers.

A division of Contracting PLUS, CWM Wealth Management Ltd. is regulated by the Central Bank of Ireland.

The benefits of choosing Contracting PLUS

Our compliant contractors typically achieve the best retention rates; they take home more money.

Our App and online portal remove all the admin and hassle from you.

Standard company insurances are included (at no extra cost) in most cases.

You’ll have a Dedicated Account Manager to answer all your questions.

You’ll get ongoing pro-active tax saving tips and suggestions.

Talk to us

Talk to our team to figure out the best solution for you

1800 54 54 22 Free Phone