Hi WGT,
I notice that you asked was it covered by your employers PRSI. I presume you mean in relation to your PRSI contributions on behalf of yourself? Therefore I assume you are self employed?
The reason I ask is that:
1) The policy you have is also known as ASU (Accident, Sickness & Unemployment benefit.
2) If you are self employed and as a result of accident or injury you cannot work, you are not entitled to any disability payment from the state.
3) If you are self employed and you lose your job, you are not entitled to any unemployment assistance or benefit.
Therefore for you, this cover is very important. At best you might qualify for mortgage Intreset Payment assistance.
In your position you should probably look at Income Protection also! You get tax releif on the premiums and the payment should you ever claim on it can potentially pay you the benefit up to retirement. Whereas the policy you have will pay for 1 year maximum.
Both are worthwhile if you can afford them! You need to ask yourself, if things went well, could you afford not to have them?
Patrick