GANBO & GACBO Group Life Cover for CAFNBO Members & their Spouses
Should you die in service, the issue of financial support may become very important for your family, at an already difficult time. Day-to-day living expenses, credit card bills, loans, etc. will still have to be met by those you have left behind.
The GANBO & GACBO Group Life Cover for CAFNBO members and their spouses is a beneficial, cost-effective and hassle-free life cover solution which provides your family with a substantial financial benefit in the event of your death, and peace of mind for you that your loved ones will be taken care of.
Amount of benefit
Death Benefit: A tax-free lump sum of €165,000 at the date of death is paid.
Spouses’ Death Benefit: A tax-free lump sum of €165,000 is payable on the death of a spouse.
Children’s Death Benefit: A tax-free lump sum of €5,000 is payable on the death of a member’s child (up to 21 years of age).
Accelerated Terminal Illness Payment
In the case where a member is diagnosed with a terminal illness with death expected within 12 months*, the Scheme will make an advance payment of up to 40% of the benefit payable under the GANBO/GACBO Scheme. This facility applies to serving members and their spouses only.
How much does it cost?
The GANBO Scheme for CAFNBO members: €7.33 per week
The GACBO Scheme for members’ spouses’: €5.38 per week
Total cost of Scheme is: €12.71 per week.
For more information, go to www.cafnbo.com
The 2017 review of the Plan has taken place. All changes to the Plan will take effect from the 1st January 2017 and the revised terms are guaranteed until 1st January 2020. Please use the link below to access the review document:
*In the opinion of an attending consultant and the insurers, Friends First. Terms and conditions apply.
Friends First Life Assurance Company Ltd. is regulated by the Central Bank of Ireland.