I consent

Important Information Regarding Cookies and Cornmarket.ie

By using this website, you consent to the use of cookies in accordance with the Cornmarket Cookie Policy. For more information on cookies see Section 7 of our Website Privacy Statement.

Voluntary Life Assurance Plan for NUI Galway members

Peace of mind for you and your loved ones

Call (01) 470 8083

 

NUI Galway Voluntary Life Assurance Plan

In the event of death, the issue of financial support may be even more pressing for your family. Mortgage payments, day-to-day living expenses, credit card bills, etc. will still have to be met by those you have left behind. This is why the NUI Galway Voluntary Life Assurance Plan is such a valuable benefit for employees.

Member's Benefit

A lump sum benefit of 2.5 times annual salary is paid in the event of the death of a member. This benefit is separate to your Death in Service Cover as a member of the NUI Galway Pension Scheme. The Plan provides this benefit up to age 65 or the date that you retire, if earlier.

Full information about the NUI Galway Voluntary Life Assurance Plan can be accessed via the link below:

Review 2018

The 2018 review of the Plan has taken place. All changes to the Plan will take effect from the 1st October 2018 and the revised terms are intended to apply until 1st October 2022. Please use the link below to access the review document.

Join now! Call us on (01) 470 8083.

What do I need to know?

1. Who is eligible to join the NUI Galway Voluntary Life Assurance Plan?

To be eligible to apply for membership of the NUI Galway Voluntary Life Assurance Plan you must be:

  • A pensionable employee of NUI Galway and
  • Under age 65.

[IMPORTANT: You must remain an employee of NUI Galway to remain an eligible member of the Voluntary Life Assurance Plan. If you cease employment with NUI Galway 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.]

2. How much does membership of the NUI Galway Voluntary Life Assurance Plan cost?

As membership is so vital, the Plan is designed to be affordable for every member. It is remarkably good value because it’s negotiated on a special ‘group basis’ for NUI Galway employees. The contribution rate is currently set at 0.53% of gross salary and is conveniently deducted from your salary by your employer.

3. Do I get tax relief on the contributions that I make?

Yes. You are eligible for tax relief at your highest rate on the contributions that you pay. After tax relief is applied, the cost is in fact 0.32% of salary for a member paying income tax at 40%.

 

Join now! Call us on (01) 470 8083.

How to make a claim?

As administrator of the Plan, Cornmarket’s role is to help guide members’ families through the claims process. Once notified of a member’s death, Cornmarket will send a letter to the next of kin/legal personal representative explaining the documentation that the underwriters require in order to process the Death Benefit claim, including:

  • Original or certified Death Certificate
  • Confirmation of final annual salary
  • Original or certified Birth Certificate
  • Certified copy of the Will and Grant of Probate (or if there is no Will the underwriters will require Letters of Administration)
  • Proof of ID and address for beneficiaries (requirement for Anti Money Laundering documentation).

In the event of a claim arising, only the Plan rules and policy conditions will be used to determine whether the claim will be admitted.

Contact Us

For more information on how to make a claim, please contact us by:

Phone                      (01) 408 4018
Email                       spsclaims@cornmarket.ie
Post                         SPS Claims Department
                                Cornmarket Group Financial Services Ltd.
                                Christchurch Square
                                Dublin 8.


Friends First Life Assurance Company Ltd. is regulated by the Central Bank of Ireland.