Income Protection Plan

Income Protection Plan Review 2018

The Income Protection Plan for NUI Galway Employees is exclusively available to employees of the National University of Ireland, Galway. The Plan provides peace of mind and financial security for members when they need it most.

The latest review of the Plan has taken place. The Plan is typically reviewed every three to five years, to ensure that members continue to receive the best deal available.                                              

Please click here for the 2018 review

 

The Plan in action*

The Plan provides a Disability Benefit of up to 75% of salary less any other income that you may be entitled to (e.g. half pay, Ill Health Early Retirement Pension,
Temporary Rehabilitation Remuneration, State Illness Benefit or State Invalidity Pension).

The true value of the Plan can be seen in the vital benefits that it pays out to members.

*Source: Cornmarket & Irish Life, January 2018

Great News
The great news is that, following this review, members will have the same great benefits with no increase in cost. The review is effective from 1st October 2018 and the terms will remain in place for 4 years until the next review of the Plan on/after 1st October 2022. Please see the above link to the 2018 review document for more information.

Here to help you  - Please don’t hesitate to contact Cornmarket if you wish to speak to a member of their team about the Plan. To talk to them today, call (01) 408 6280 or email spsadmin@cornmarket.ie

 

 

How to Make A Claim

Telephone the Cornmarket Claims line at 01 408 4018 to receive a Claim Form and further information on making a claim.

Please remember that it can take a number of weeks to process your claim. As soon as you become aware that, due to illness or injury, your income is likely to reduce to half pay or cease altogether, please let us know. Ideally, we should be informed about 8-9 weeks in advance to enable the Insurance Company to assess your claim and gather the relevant medical and employer information. As we understand that this may not always be possible, the Insurance Company may not be able to pay your benefit at the time that your income reduces or ceases. In such cases your benefit may, depending on the particular circumstances, be backdated to the date when your salary reduced to half pay or stopped altogether, where the claim is subsequently admitted.

2014 Opt In All Staff

After a review of the insurance market by the Plan’s administrators, Cornmarket, we have agreed that Irish Life will provide the best deal and should continue to insure the Plan from 1st April 2014 and all staff “actively at work”* on the 1st of April 2014 were opted into the plan without the need for any medical underwriting.

*Actively at work meant that on 1 April 2014 you:
• Are working your normal contracted number of hours
• Have not received medical advice to refrain from work
• Are not restricted from fully performing the normal duties associated with your occupation.
Those on paid and unpaid maternity leave can be considered actively at work.
Employees on paid leave/holidays are considered to be present at their place of work but must still meet the other requirements for ‘Actively at Work’.
Staff who do not satisfy the above criteria on the appointed date can still apply to join the Plan at a later date on completion of application form which will contain medical questions.

Admin Transfer of ICP to Cornmarket Jan 2013

Income Protection Information Booklet April 2014 

Note to Staff not opted in on/after 1st April 2014 due to a Salary less than €15,000

If you have an annual salary of €15,000 or less the benefit payable from the Plan is minimal when you take into account any other income you may be entitled to such as, half pay, Ill Health Early Retirement Pension, Temporary Rehabilitation Remuneration, State illness or Invalidity Benefit. Therefore you were not opted into the Plan and do not pay premiums.  Once your gross annual salary increases above €15,000, you can avail of the Plan without medical underwriting, once you contact NUI Galway Pensions Office (pensions@nuigalway.ie) within 31 days of your salary increase.  You may still apply to join the Plan after this but your application will be subject to medical underwriting.

Income Protection Plan Summary October 2014

Income Protection Presentation by Dermot Ryan from Cornmarket (March 2014)

 

Income Protection Plan Booklet

Income Protection Plan Booklet