AHCPS & VOA Income Continuance Plan
Could you and your family survive without your salary if you fell ill and were unable to work? If your answer is no, then you need Income Continuance insurance.
The AHCPS & VOA Income Continuance Plan protects your salary against the impact of illness or disability, providing you with a replacement income* should you fall ill and become unable to work.
Exclusively available to AHCPS and VOA members, the security and benefits of this Income Continuance Plan are not available anywhere else. That’s why over 1,365** AHCPS and VOA members are already protected through the Plan.
- A replacement income of up to 75% of your salary* if you fall ill and are unable to work
- An extra 3 months’ benefit paid after the death of a claimant
- Tax relief on the contributions that you pay (find out more)
- A claims service you can trust (find out more)
Why is Income Continuance so important?
*Less any other income to which you may be entitled e.g. half pay, Ill Health Early Retirement Pension, Temporary Rehabilitation Remuneration, State Illness Benefit. You must exhaust your employer’s sick leave entitlements and the Plan deferred period as denoted in the Plan Summary Booklet.
**Source: Cornmarket, January 2016
How much does it cost?
The AHCPS & VOA Income Continuance Plan is designed to be affordable for every member. It is remarkably good value because it’s negotiated on a special ‘group basis’ exclusively for AHCPS and VOA members and harnesses the purchasing power of the Associations.
The contribution rate is currently set at 0.60% of gross salary.
You are eligible for tax relief at your highest rate of tax on the contribution that you pay.
This means that the net contribution rate is only 0.36% after tax relief is applied, if you are paying tax at the higher rate.
The Real Question is…
Can you afford not to have this Income Continuance insurance in place for you and your family? Membership of the Plan is a small price to pay for the security and peace of mind that this cover provides.
What do I need to know?
Income Continuance is a simple, tax-efficient way to protect your family and livelihood in the event of illness or injury.
Full information about the AHCPS & VOA Income Continuance Plan can be accessed via the link below:
Should you have any queries, please call us on (01) 470 8078.
How to make a claim
Please click here for a Step-by-Step Guide to making a claim from the AHCPS & VOA Income Continuance Plan.
Cornmarket is not automatically notified of your absence from work through illness. Ideally, we should be informed about approximately 8-9 weeks in advance of your salary reducing to half pay or ceasing altogether. As soon as you become aware that, due to illness or injury, your salary is likely to reduce to half pay or cease altogether, please let us know by:
- Phone (01) 408 4018
- Online Click here
- Post SPS Claims Department,
Cornmarket Group Financial Services Ltd.,
A Claims Service you can Trust
Cornmarket’s in-house, dedicated Salary Protection Claims Team are here if you ever need to make a claim. You can rest assured that it will be dealt with in the efficient, professional and sensitive manner that you deserve.
We’re here to help you.
Important: You must remain a member of the AHCPS or VOA to remain an eligible member of the AHCPS & VOA Income Continuance Plan. If you leave the Union, you must inform Cornmarket in writing as you can no longer stay in the Plan and you will not be able to claim from it.
New Ireland Assurance Company plc is regulated by the Central Bank of Ireland. A member of Bank of Ireland Group.