Lifetime Community Rating (LCR) legislation was introduced by the government on the 1st May 2015. Under LCR, community rating was modified to reflect the age at which a person takes out private health insurance with late entry loadings or penalties being applied to the premiums of those who join the health insurance market at age 35.
This system replaced the previous community rating system that meant all adults paid the same premium regardless of age. As LCR reaches its 3rd birthday we take a look at the effectiveness of the legislation and the financial impact on those who purchased a policy to avoid the penalties but who have not reviewed their cover options since.
Cornmarket’s Dental Insurance plans are available to suit all budgets, starting from as little as €20 per month***. All these plans fully cover investigative and preventative treatments as well as emergency worldwide cover. Most dental practices offer direct settlement facilities whereby the member simply shows their membership card and the cost of treatment is billed to the insurer. You can choose from three levels of dental cover with Cornmarket with varying benefits available across plans.
Giving back to our local community and charities is an important part of life at Cornmarket. Every two years, our staff select a charity for our company to support through a range of fundraising and volunteering initiatives. In 2017, the Peter McVerry Trust was selected as our charity of choice.
Learn about the great fundraising initiatives we have run to date.
Cornmarket Group Financial Services Ltd, one of Ireland’s largest insurance brokers serving the financial needs of Public Sector employees, has announced the availability of a new worldwide travel insurance product for the Irish market. ‘Travel Plus’ has been introduced by Cornmarket in response to the growth of the Irish travel sector, with increasing numbers of people holidaying abroad as the economy continues to improve.
We always have great expectations for our summer, but as with most years the Irish weather just isn’t willing to cooperate. So grab your passport and ready the suncream, as we outline some of our favourite European cities that you can jet to in under 4 hours...
In 2015 the government introduced Lifetime Community Rating legislation which led to approximately 75,000 adults taking out a new health insurance plan. At that time, the health insurers developed a range of plans which were mainly entry level plans, and some of these only provide cover in certain public hospitals or have reduced benefits / limited cover. If you took out a health insurance plan to beat the Lifetime Community Rating loading, without fully reviewing the cover afforded to you, now is the time to review your cover.
Loved ones come first and foremost when we think about future financial security. This could be your spouse or children, who would be significantly impacted if you weren’t there to provide for them. Or anyone in your life who would face a financial challenge if you passed away, for example by having to pay off any loans or debts that you have. Did you know that 25% of people with life insurance in Ireland don’t know how much cover they actually have?* As with any insurance policy, it’s important to review your life cover on a regular basis to ensure that you’ve got the right level of protection for your changing needs and to see if you could save money.
Enter our competition and you could win a holiday worth 2000 euro.
With all of the recent announcements in the media about the Irish Life Health takeover of both GloHealth and Aviva Health, price increases, and the introduction of a number of new policies, it’s not surprising that consumers find it difficult to choose the health insurance plan that is right for them and their family. Whether you are buying your first policy or renewing your cover, the good news is that there are a number of ways to find the policy that best meets your needs and cut the cost of your premium.We’ve put together some questions you can ask yourself to help you find ways to save money on your health insurance.
This January, ASTI in partnership with Irish Life and Cornmarket, are proud to launch Pink Power and Blue Power, a free health assessment programme for members of the ASTI Salary Protection Scheme. Under this programme, over 5,000 secondary school teachers are invited to attend a comprehensive Breast or Prostate Health Assessment for FREE...
Student life means more freedom, socialising and fun. With all this also comes more responsibility in managing your money. To ensure you enjoy your student years as much as possible, it’s good to have a clear picture of what to expect and how much it costs to fund student life. Here are some tips to help you save money!
When you’re in your 20s, 30s or 40s being unable to work due to an illness, accident or injury is often furthest from your mind. But unfortunately this can happen at any time. Here's an example of how Income Protection can help for short term claims...
Summer is here and you may be planning a getaway to the sun, a short weekend city break or even travelling for the entire summer! Whatever you decide it’s important to remember that at the top of your holiday checklist should be your travel insurance. Here are some top tips on what to look out for and the different options available...
For most of us it’s not a case of if we need Life Insurance, but rather how much Life Insurance we really need. But before taking out a policy or renewing an existing one, it’s vital to know what type of policy makes the most sense for you and will best protect your loved ones...
Lifetime Community Rating (LCR) came into effect from 1st May 2015. Prior to this, health insurance premiums were based on community rating i.e. regardless of age, health, gender etc, everyone paid the same premium. The main change from 1st May 2015 is that age became a factor in calculating premiums for those over age 34.
Does it ever feel like every time you open a magazine or check your Facebook there’s some new fitness fad or dietary regime that you "just have to try”? The truth is, the best exercise is the one that you are most likely to do! Here are some top tips for maintaining a healthy lifestyle…
Depending on the stage of life that you are at, you may feel like you don’t need Life Insurance yet or that there’s no need to review the cover that you already have. But here are some of the key reasons why you should consider taking out Life Insurance or think about reviewing your existing cover, at the different stages of your life...
With the customary household spring clean well underway, why not spring clean some of your spending habits also to see what you can save?
Almost every item of expenditure should be queried. Ask yourself - do you need it and, if so, are there better or cheaper alternatives?
Here are some top tips to help you become more savvy with your spending!
Putting money into an AVC is one of the most tax-efficient investments you can make. In Budget 2016 (October 2015) there were no changes to AVCs or to tax relief. This means if you are contributing to an AVC you will receive tax relief on the highest rate of income tax that you pay i.e. if you pay income tax at 40%, then you get tax relief at 40%; so for every €100 you invest it only costs you €60! Find out more...
The New Year brings with it change. We revamp our lifestyles, our diet and our finances. Resolutions can be hard to keep but unlike that sit-up regime that has probably already been abandoned, there is one resolution that, with our help, will be easy to keep – finding health insurance cover that meets your needs and budget...
Following the Finance Act 2013, AVC policy holders are allowed a once-off option to withdraw up to 30% of the value of funded Additional Voluntary Contributions made to supplement their retirement benefits. The option to withdraw is available up to Saturday, 26th March 2016.
Saving money can be a difficult habit to start, but you don’t have to make huge sacrifices to get yourself on the right track. Sometimes all it takes are some small daily changes to get you started on forming a healthy savings routine. Read on to see how you can begin this year as you mean to go on with these easy money saving tips.
Ireland has one of the highest inheritance tax in the world. Changes in Inheritance Tax rules commenced in 2009, but it is only now that people are starting to realise the impact this is having as property prices and asset values begin to recover. Here our expert outlines what your options are to protect your family against Inheritance Tax.
The cost of sending your child to college currently stands at over €11,000 per year – a daunting figure for any parent to grapple with. As with any expenses, it’s sensible to plan ahead so you are prepared. Of course, the earlier you start to save for this expense, the more of a nest egg you’ll have in place in the future. However, if you‘re the parent of a 17-year-old with their hopes pinned on attending college next year, there are still plenty of things you can do in the coming year to ease the financial burden. Here we break down the options for every situation...
Private health insurance is something traditionally a lot of people put off until they are older. However, with the introduction of Lifetime Community Rating in May of 2015, anyone aged 35 and older taking out health insurance for the first time will now be penalised. As a result, more young people are considering the benefits and costs of a private health insurance plan. In fact, 80,000 people took out cover as a result of these changes. To help clear up some of the confusing aspects of the insurance market, we asked our in-house health insurance expert what you should look out for when taking out your first private health insurance plan.
Choosing to get life insurance is one of the most important decisions you can make and one that certainly shouldn’t be taken lightly. That said, many people are unsure about exactly how it works and whether getting life cover is the right decision for them. To make things a little clearer, we sat down with one of our in-house insurance experts to dispel some of the most common misconceptions about life insurance.
Thanks to today’s busy lifestyles, many of us can find it difficult to switch off at night and get a good night’s rest. If you’re not getting a full eight hours of sleep, you’ll be lacking in energy, be more easily stressed, and generally be less able to deal with whatever the day throws at you. If you’ve had enough of counting sheep, read on for our simple sleep tips.
Taking care of your teeth is one of the most important things you can do for your overall health and wellbeing. Our selection of dental insurance plans will certainly take the sting out of any trip to the dentist, but with these simple dental hygiene tips you shouldn’t need to visit too often...
Many people are under the impression that filing a tax return is only for those who are self-employed, but there are a host of professions in which you are entitled to claims that can mean big savings at the end of the year. We asked one of our in-house tax experts about some of the ways you may be missing out on potential gains, and some tax-related pitfalls you should aim to avoid.
It’s no secret that it’s a good idea to start thinking about your pension entitlements as early as possible. But it’s often something that remains on our to-do list. However, there’s no time like the present to tick this one off your list and help to start securing your financial freedom upon retirement.
Still need convincing? Read on to see 3 reasons why you should prioritise your pension today and see how you can make it even better...
School is still out for summer and time is clear in the family schedule. With some long bright evenings yet to be enjoyed, we’ve found plenty of fun activities for you and your loved ones to try out. So pop the kettle on and take your pick from our countdown of four easy ways to make the most of the summer this year...
Keeping fit is important when maintaining a healthy lifestyle but, if you’re anything like us, you occasionally feel that exercising can be a chore. Come summer however, it’s nice to mix up your exercise routine and head out into the fresh air to work up a sweat in the surrounds of the pretty Irish countryside...
You’ve stepped away from the daily grind and have moved onto your next adventure! So it’s no surprise that making the most of your time is a priority. From keeping a close eye on your income to trying out some fun new activities, here are some easy ways you can retire in style.
Summer is here and it’s time to put those holiday plans into action. So air out your holiday wardrobe as we bring you the top destinations around Ireland to inspire your travel plans. What are you waiting for? Check that your travel insurance is in order and start the road trip now…
If retirement planning has been an active part of your life, you’ll have the pieces of the puzzle in place for a satisfying and fulfilling retirement. However, if you’ve left retirement planning a bit late, don’t fret as there’s still time to plan what you’re going to do! We’ve put together a list of tips to help you have that active retirement you’ve always wanted.
Home Insurance is one of the most important types of insurance you can buy. Realistically, your house is your biggest and most valuable asset. While home insurance isn’t legally required, we do strongly recommend making sure you take out a home insurance policy! Whether it’s time to take out a new policy or to renew your existing one, we’ve come up with three quick ways that might save you money on your home insurance premium.
You may have just started planning a family or even just welcomed your first little one into the world. Either way, becoming a parent is an important time to consider life insurance or to re-examine the life insurance you’ve already got to ensure you've got the cover you need.
Burglaries are always a concern for homeowners. While it might not be something you think about regularly, it can be something that plays on your mind from time to time. So what is the best way to burglar-proof your house? We’ve pulled together some useful tips to help keep your house safe.
Whether you’re a running fanatic who enjoys nothing better than hitting the pavement or you’re someone who’d rather sit on the sofa with the soaps on, there’s no denying the benefits of running! Now that 2015 is in full swing and some of our resolutions may be falling by the wayside, there’s no better time to recommit to taking up that extra hobby. Given running’s many benefits, why not give it a go?
If you haven’t done too much research into them, Additional Voluntary Contributions (AVCs) can seem quite confusing. Essentially, an AVC is a way of having extra savings when you retire. Usually, it’s in the form of an investment and upon retirement you have a few different options, like taking out a lump sum. At Cornmarket we’re experts in the area of AVCs, so we’re going to highlight some of the reasons why investing in an AVC is a great idea.
There are so many possibilities of where to go on holidays that choosing one can take forever—it’s also totally dependent on your budget, of course! Budget and travel insurance pending, your options are wide-open. We’ve put together a list of five dream places to visit in your life time! While some of these travel destinations are on the expensive side, they’re sure to give you plenty of ideas for your next holiday!
Mistakes happen, from the little to the large. Some mistakes you can shake off, but others may haunt you and you’ll spend the rest of your life hoping no one finds out about 'that one time you did that thing'! Whether you’ve already got a life insurance policy or you’re planning on taking one out, we’ve highlighted the five big mistakes you should try to avoid!
In 2014, over 9,700 Public Sector employees availed of our Financial Planning Service. It’s a great service, so we reckoned we’d start a series on financial planning at the various stages of your life. First up is our guide on how to commit to financial planning as a young couple.
Retirement planning is something that a lot of people put off, or keep stored in the back of their mind without ever really thinking about it. However, retirement planning is important and with the New Year now in full swing, there's no better time time to commit to beginning retirement planning! Maybe make it a belated New Year’s resolution?
Whether you’re going skiing or heading to Paris for a romantic getaway, travel insurance is an absolute must. And we’re not just saying that because we’re in the insurance business!
Going on holiday is exciting and the last thing you want is to be worrying about your travel insurance policy, which is why we’ve put together a list of travel insurance FAQs.
Buying your first house can seem like a challenge so large that it’s easy to consider sticking with renting for a couple more years. There’s an awful lot to think about: solicitors, home insurance, stamp duty, a hefty deposit…the list goes on! To help you demystify at least part of the process, today we’re taking a look at home insurance for the first time buyer!
AVCs are something of a mystery to a lot of people. Rather than diving right in with a heap of information or a detailed FAQ, we thought we’d start with a glossary of the terms you’ll see us use most in our blog posts about Additional Voluntary Contributions (AVCs).
When you’re young, life insurance isn’t the first thing on your mind. You’re probably worried about paying rent, your kid’s doctor appointment, or any of the troves of bills that need to be paid. Life insurance is one of those things that we relegate to later in life. Sure what do I need life insurance for, you might be thinking, because I’m young and fairly healthy?
The truth is that you’re never too young to apply for life insurance. It’s a failsafe backup to have at all stages of your life. Here are our eight reasons why.
While the summer may have been glorious, even making a late resurgence in September, the chill has set in, the days are shorter, and winter is very definitely here. Along with the cold, the change in season brings along a whole host of health concerns for your hair and skin.We’ve chosen the six worst of our wintery skin and hair health concerns and given you some great health tips to combat them.
Now winter has arrived, healthy living is more important than ever. The days are getting shorter, the evenings colder, and getting up in the morning is met with a chill that’d almost send you right back to your bed. The cold brings with it a whole host of health concerns: everything from the dreaded flu to 24 hour winter bugs. We’ve put together a list of health tips to keep your body ticking over.
Truth is, a lot of graduates have never even heard of Income Protection. In our Graduate’s Guide to Income Protection, we’ve got all the info you need to figure out the basics of Income Protection and decide if a policy is for you.
Firstly, congrats on the nuptials! Now that the honeymoon is over, let’s talk tax in light of your new marital status. Tax and filing tax returns and all that other fun stuff is a headache at the best of times, so we’ve got 7 tax tips to make the transition into married life a bit easier.
Expensive presents, the decorations, and all that food quickly add up to a large price tag. If you want a happy New Year as well as a merry Christmas, it’s time to start saving money. Saving money is easier said than done so we’ve come up with ten quick money saving tips to keep your budget ticking over.