POA Group Life 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 POA Group Life Plan is such a valuable benefit for POA members.
The Plan benefits are provided up to age 65 or the date that you retire, if earlier:
In the event of the death of a member, a lump sum benefit of €135,000 will be paid to the member’s estate.
In the event of the death of a member’s spouse or partner, a lump sum benefit of €67,500 will be paid directly to the member. This benefit is payable if the spouse/partner is under age 65 at the date of death.
Important: For single members of the Group Life Plan (i.e. not married or in a civil partnership) wishing to avail of the Partner Benefit, a Partner Nomination Form must be completed before the death of their partner. Other terms and conditions apply. For more information, please click here or select the ‘Partner Nomination Form’ in the menu opposite.
The Plan also provides members with:
- Retired Members Benefit
- Ill Health Retirees Benefit
Click here to find out more about the Plan and the outcome of the 2015 Review.
Join now! Call us on (01) 470 8083.
*For the purpose of this Plan, a ‘partner’ is described as a lawful spouse, registered civil partner or, where the member is single (not married or in a civil partnership), the person nominated by the member who is living with the member in a spousal type relationship for 12 or more continuous months.
Partner Nomination Form
Why is it important to fill out a Partner Nomination Form?
For single members of the Group Life Plan (i.e. not married or in a civil partnership) wishing to avail of the Partner Benefit, it is important for the member to complete a Partner Nomination Form. Forms must be completed in advance of the death of their partner. In order to be entitled to Partner Benefit, the member must have co-habited with their nominated partner for at least the 12 months prior to the date of death and the member must not have a lawful spouse or civil partner.
In the event of the death of a nominated partner where there is also a spouse, no benefit would be payable in respect of the nominated partner. A benefit would only be payable in the event of the death of the spouse or civil partner.
Important: If you have not completed a Partner Nomination Form for a partner that meets the criteria of the Plan and provided it to us, no benefit will be payable. This benefit is only payable once per member irrespective of the number of spouses or partners.
How do I submit a Partner Nomination Form?
To nominate your partner for this benefit:
Print and complete the application form – click here
FREEPOST your completed form to:
Cornmarket Group Financial Services Ltd,
Call Cornmarket on (01) 408 4195.
What do I need to know?
1. Who is eligible to join the POA Group Life Plan?
To be eligible to apply for membership of the POA Group Life Plan you must be:
- A member of the Prison Officers’ Association and
- A member of the Superannuation Scheme for Prison Officers and
- Under age 65 and
- Employed on a permanent full-time basis or on a permanent part-time basis (working at least 8 hours per week) or
Employed on a temporary basis (with a contract of at least 12 months’ duration and at least 8 hours per week).
Those who are on statutory maternity leave (whether paid or not) are also eligible to apply for membership of the Plan.
[IMPORTANT: You must remain a POA member to remain an eligible member of the 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.]
2. How much does membership of the POA Group Life Plan cost?
As membership is so vital, the Plan is designed to be affordable for every member. It is remarkably good value because it is negotiated on a special ‘group basis’ for POA members.
As a result of the 2015 Plan Review, from 1st November 2015, the contribution rate is set at €7.35* gross per week.
3. Do I get tax relief on the contributions that I make?
Yes. The majority of the contributions that you pay (71%**) is eligible for tax relief, so the net cost is €5.27 (for a member paying 40% income tax) or €6.31 (for a member paying 20% income tax).
Join now! Call us on (01) 470 8083.
*The cost above includes the insurance levy of 1%.
**The portion of your premium in respect of Spouse/Partner’s Benefit does not qualify for tax relief.
How to make a claim
As administrators of the Plan, Cornmarket’s role is to help guide members’ families through the claims procedure. 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).
Please bear in mind that the estate of a deceased member must be processed through the Probate Office (the next of kin or solicitor can deal directly with the probate service). This can result in delays to the payment of Death Benefit to the beneficiaries (anywhere between 3 months to a year, or more). Once the insurer receives all the documents and information it requires, payment of the Death Benefit claim is usually made within 10 days, subject to admission of claim.
For more information on how to make a claim, please contact us by:
Phone (01) 408 4018
Post SPS Claims Department
Cornmarket Group Financial Services Ltd.
New Ireland Assurance Company plc is regulated by the Central Bank of Ireland. A member of Bank of Ireland Group.