Irish Life websites
Irish Life Health
Welcome to Ireland’s newest health Insurer, Irish Life Health. Bringing fresh options and innovation to the health insurance market.
Irish Life
Irish Life the largest life and pensions group and fund manager in Ireland, employing 2,000 people and servicing one million customers.
Irish Life Investment Managers
Managing assets in excess 39bn, ILIM manages money on behalf of multinational corporations, charities and domestics.

10 things I learned about Irish Life’s Income Protection product

I have been working on income protection business for many, many years!
 
Although “income protection” as a product name might be relatively new - with other names like income supplement, salary protection, disability benefit and permanent health insurance being used in the past - ultimately the importance of the product itself has stood the test of time.  (Let me know any other names that have been used and I’ll enter you into a draw to win a €50 One4all voucher).
 
Here in Irish Life, we have been managing income protection claims for decades, but I wanted to take a deeper dive into the data and get to know it a bit more.  And I learned lots of interesting things…
 
 
With the largest share in the income protection market, we are currently paying a monthly benefit to 2,357 people, with a female/male split of 59%/41%. 
 
The average annual benefit right now is €23,260.
 
The best outcome is when people fully recover and go back to work.  So far this year, over 500 people have done just that.
 
It’s great when people fully recover and go back to work, but we’re most proud when we help them do it, by availing of a range of our nationwide rehab programmes.  More than 500 people have used our rehab services over the years and we aim to have 50 people completing programmes this year alone.  
 
There are more than 550 employers receiving a payment from Irish Life on behalf of an employee, or several employees.  
 
Also, we have more than 850 public sector employees receiving a monthly benefit from Irish Life as they are unable to work due to illness or injury.
 
 New claims since Jan 2015
 Male v's female claims since Jan 2015
 
 
And finally
 
We have paid out more than €55m in income protection benefits in 2016 alone!