1. UNIVERSITY OF LIMERICK VOLUNTARY LIFE PLAN
October 2014
Jim O'Neil MIIPM QFA, FLIA

2. Voluntary Life Cover Plan-Eligibility
All pensionable employees of the University of Limerick under age 65.
Cover will cease upon retirement or resignation
Underwritten by Friends First
07 December 2018

3. Voluntary Life Cover Plan-Benefits
Life Cover of 2.5 X Salary
Salary Linked-Benefit rises each year in line with salary increases
Same rate for all members, regardless of age, gender or smoker status
Costs less than individual plan
Short application form-4 questions
Doctors report may be required
Note-Plan cannot be assigned.
07 December 2018

4. Voluntary Life Cover Plan- Example of Costs
Cost of benefit is 0.558% of salary-New Rate from 1st May 2012
Salary €40,000 €75,000 €100,000
Benefit €100,000 €187,500 €250,000
Monthly Premium €18.60* €34.87* €46.50*
* Premiums attract tax relief at members tax rate
07 December 2018

5. Voluntary Life Cover Plan-Arranging Cover
Complete simplified application form
Complete deduction mandate
We do the rest……
Process application
Ensure payroll arrange deduction
Manage future claims on your behalf
07 December 2018