How much does it cost?

Calculators > How much does it cost?

The cost of a FriendsFirst Income Protection plan depends on the option you choose, your age, occupation and health. It is very easy to fit a plan into your budget that you can review as your circumstances change.

Example 1

Philip is a Civil Engineer currently earning € 50,000 per year and is 30 years old.

He has chosen to protect 50% of his salary i.e. € 25,000 per year until his retirement age of 65. He selects a 6 month waiting time and chooses to index link his premiums.

Benefit amount	€ 25,000 (or € 481 per week)
Gross premium	€ 56.51 per month
Philip pays	€ 33.34 per month*
	*after tax relief based on 41%

Now consider this....

If Philip were to claim on his policy in 2 years time (aged 32) and his claim lasted for the average duration of 5.5 years, we would pay him over € 156,259 in benefits.

If he were unable to return before retirement, then over that 35 year period we would pay him a total benefit of € 1,460,000.

Example 2

Peter is a 35 year old Sales Representative currently earning € 72,000 per year.

He has chosen to protect 50% of his salary i.e. € 36,000 per year until his retirement at age 65. He selects a 6 month waiting time and chooses to index link his premiums.

Benefit amount	€ 36,000 per annum (€ 692 per week)
Gross premium	€ 105.56 per month
Peter pays	€ 62.28 per month*
	*after tax relief based on 41%

Now consider this....

If Peter were to claim on his policy in 2 years time (aged 37) and his claim lasted for 5.5 years, we would pay him over € 224,000 in benefits.

If he were unable to return before retirement, then over that 28 year period we would pay him a total of € 1,639,636 in benefit.

Example 3

Jack is an Accountant currently earning € 85,000 per year and he is 40 years old.

He has chosen to protect 50% of his salary i.e. € 42,500 per year until his retirement at age 65. He selects a 6 month waiting time and chooses to index link his premiums.

Benefit amount	€ 42,500 ( or € 817.31 per week)
Gross premium	€ 108.46 per month
Jack pays	€ 63.99 per month*
	*after tax relief based on 41%

Now consider this....

If Jack were to claim on his policy in 2 years time (aged 42) and his claim lasted for 5.5 years, then we would pay him over € 265,513 in benefit.

If he were unable to return before retirement, then over that 23 year period we would pay him a total benefit of € 1,463,000.

Are you starting to realise the value of Income Protection?