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What exactly is Specified Illness Cover?
Specified Illness Cover will pay you a tax-free lump sum in the unfortunate event of you suffering one of the range
of illnesses listed below.
As you recover, your income can fall but household bills still have to be paid and you may have additional expenses.
Specified Illness Cover pays out a lump sum to meet these financial requirements.
What is the benefit level under the plan?
This plan is designed to provide up to €100,000 cover for you/and your spouse/partner.*
*Partner is defined as living in a spousal type relationship for 12 or more months at the time the application for cover
is made.
How much does it cost?
€50,000 cover for yourself costs as little as €3.94 per week.
€50,000 cover for your spouse/partner also costs as little as €3.94 per week.
Furthermore your children (aged 1-21) are automatically covered for €20,000 FREE OF CHARGE
What is so special about this particular plan?
Low Cost - The cover is available at a special group rate which is significantly cheaper than if you bought the
cover on your own. In fact, due to rising costs in the individual market, this cover is better value than ever before.
Automatic Acceptance - You and your spouse/partner can join without having to complete a lengthy application
form or having to answer any detailed medical questions.
Convenience - The cost will be deducted directly from your salary.
Eligibility
You are eligible to join if you satisfy the following criteria:
• You are a member of the CWU.
• You are over age 18 and under age 60 years.
In addition, spouses/partners (over 18 and under 60) of eligible CWU members can also join, subject to the member joining.
Are there any medical requirements?
A huge benefit is the fact that the cover is being provided on a group basis and that you can apply for this cover without providing medical information.
However, it should be noted that due to this large concession which is not the norm, ‘pre-existing illnesses’ are not covered under the plan.
When am I covered until?
The cover continues right up to age 65 or on ceasing to make contributions or on ceasing to be a member of the CWU, if earlier.
Can the cost of cover change?
The cost is the same for all who join irrespective of your age, gender and whether you smoke or not.
If large numbers of people leave the plan and/or if there is a high number of people claiming then Irish Life Assurance reserves the right to increase the cost of the cover to members.
Of course, the costs can also be reviewed downwards in the future. The next review of the plan will take place in February 2009.
When can I join?
You can join the plan now without having to provide any medical information and you will be automatically accepted.
However to avail of this opportunity, you must return your application form by the date advised.
Please Note: After this closing date you will not have an opportunity to join for the foreseeable future.
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