Income Protection Scheme for FORSA Clerical Officers

With effect from November 2016, Lyons Financial Services has negotiated an enhanced Income Continuation Scheme on behalf of FORSA members. While your Sick Pay arrangement will provide you with a replacement income in the event of you being unable to work, the amounts payable begin to reduce after 3 months payment, eventually leading to you becoming reliant on either an Ill-Health Early Retirement Pension and / or Social Welfare Disability Benefits. As a result of this dramatic fall in your income levels, you’ll find that the stress and misery associated with your illness is exacerbated by the financial pressures of trying to survive on this reduced income.

The Income Continuance Plan (ICP) maintains your income at 75% of your salary if you are unable to work due to illness or an accident. This will allow you focus on what is important – your health and getting better without the financial strain.

The scheme also now offers a number of important enhancements for members;

  • Accidental Death Benefit of €20,000
  • 3 months Survivor Benefit paid in the event of the death of a member who is currently claiming benefit from the scheme.
  • A reduced cost to members of 1.27% of salary (with tax relief available)

Cost Examples

Salary Gross Cost per week Net Cost per week
€25,000 €6.39 €5.11 (20% tax)
€35,000 €8.95 €7.16 (40% tax)

For more information with regards to the benefits of the Income Continuance Plan, please see the member booklet.

To apply for cover under the FORSA Income Continuance Plan, please complete the application form or alternatively please contact us.

What Our Clients Say

Just want to say thank you for all your help and advice and for being so patient with us. We are so delighted with our new home. We couldn’t have done it without you. Thank you and God bless.

Mae & Ramir

Many thanks for all your assistance in dealing with my claim under the Income Protection Scheme for period Jan 16 to Nov 16. For your efficiency and keeping in touch with me throughout and for all your work with the insurance company.

Rosaleen, Co. Laois

Many thanks for all your help and assistance in switching our health insurance. We were anxious about switching but you made the whole thing so easy and saved us a fortune as well. We can now afford a family holiday as a result.

Eamonn and Jackie, Co Galway

Lyons Financial Services arranged our Mortgage, Income Protection and Health Insurance and saved us so much time and money. They are so nice and efficient; we will always deal with them in the future.

Angela & Peter, Tuam, Co. Galway

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