In the event of your death, financial support may be a significant issue for your family. Mortgage payments, day-to-day living expenses, credit card bills and so on, will still have to be met by those you leave behind. This is why the benefits of the NUI Galway Group Life Plan are so valuable for NUI Galway employees.
If a member of the plan dies, a lump sum of 2.5 times annual salary will be paid.
This benefit is separate to your Death in Service Cover as a member of the NUI Galway Pension Scheme.
If a member of the plan dies by accidental death, a lump sum of €15,000 will be paid in addition to the Members' Benefit.
If a member’s child (aged 0 and 21) dies, a death benefit of €4,000 will be paid.
Cornmarket and NUI Galway work together to secure the best price and benefits for members. When it comes to cost, you benefit from the group purchasing power of NUI Galway.
The cost of the Plan is 0.36% of salary, and your premium is eligible for tax relief.
Cornmarket negotiate with insurers to obtain the most competitive rates and to secure the best possible benefits for members.
People are living longer, which puts more financial pressure on their retirement. For this reason, they need a level of Life Cover to make sure their loved ones are financially secure if they die and are no longer there to take care of them. The Cornmarket Retired Members’ Life Cover Plan provides this vital peace of mind and financial security.
What's more, NUI Galway Voluntary Life Assurance Plan members are automatically entered into the Plan on retirement, without the need for medical underwriting.Find out more
The NUI Galway Group Life Plan is underwritten by Irish Life Assurance plc. Irish Life Assurance plc is regulated by the Central Bank of Ireland.