Income Protection for HSE Professionals
As a Health Service Executive (HSE) worker, whether you need income protection depends on your specific role, employment terms and personal financial situation.
Many HSE employees receive sick pay benefits, but these may have limits on duration and coverage. If an illness or injury prevents you from working long-term, income protection ensures you continue receiving financial support beyond what your employer provides.
Here are some points to think about when considering income protection:
- Extended sick leave limitations: If you're off work for an extended period, statutory sick pay might not be enough to maintain your financial commitments.
- Job security uncertainties: While HSE employment offers stability, unexpected health issues can still disrupt income, especially if you're on contract or temporary assignments.
- Lifestyle and financial commitments: Mortgage, rent, or family expenses don’t pause when you’re unable to work, making income protection a safety net for financial security.
A full time permanent HSE employee is entitled to 6 months full pay and 6 months pay depending on the illness. At the end of that period, you may be forced to retire or take the state illness benefit of circa €12,500 pa.
Income Protection can ensure that you have up to 75% of your Incomeprotected in the event of illness or Injury to age 70 if necessary and can giveyou peace of mind throughout your career.
Why Do You Need Income Protection?
Your Expenses Don’t Stop
Your financial responsibilities continue. Income protection ensures you can meet your commitments.
State Benefits Not Enough
Government supports may not be sufficient to cover your professional and personal expenses.
Peace of Mind
Knowing that your financial future is secure allows you to focus on recovery without added stress.
"Dr Vladka was diagnosed with cancer in late 2012 and has undergone four extensive surgeries since. Unfortunately the treatments have resulted in a significant loss of arm/shoulder mobility, rendering her unable to work for the foreseeable future. Vladka’s Income Protection policy has provided her with a weekly income since her first diagnosis and will continue to do so as long as she is unable to work."
"When I applied for income protection in 2013, I was in perfect health. Then suddenly I found myself laid up with broken bones from a serious car accident. I had barely paid my first premium, but Omega honoured their word. I never had to worry about payment, and the claim form was simple and quick. It was one major headache I didn’t have to deal with. I would recommend every professional to seek income protection, because you never know what lies ahead."
"I like to keep fit and healthy and it is rare that I am unable to work due to illness. However in recent months I have claimed on two occasions for 2 days of lost income as a self employed business owner. The claims process was swift, DG kept me informed and the claim was paid within 7-10 days. Overall I have found the support provided by DG and Omega Financial to be excellent and would recommend highly."
As a general dental practitioner who owns a mixed private/GMS practice I thought it was essential to have Day One income protection against a rainy day. Practices have so many hidden costs that a considerable down time would put real strain on the every day running of the practice so I felt Day One protection was essential. Covid-19 was one of those down times. Overnight the practice shut its doors and all sources of income were lost.
