Income Continuance Plan
The University of Limerick's Income Continuance Plan (ICP) provides financial security to members in the event of long-term absence from work due to long-term illness. ICP seeks to ensure that between Ill-Health Retirement Pension, any Social Welfare Disability Benefits and the University of Limerick Plan, members of the plan will receive a gross income of 75% of their pre-disability salary, should they suffer from a long term illness.
With effect from 1st January 2015 the insurance for the UL ICP will move from the existing provider to Willis Risk Services (Ireland) Limited. Zurich Life have been appointed as the Insurer for the plan. Further information on the UL ICP scheme can be found here - ICP Information Booklet
If you would like to join the University of Limerick Income Continuance Plan, please complete the ICP Application Form and return it to: Pensions Section, Human Resources Division, University of Limerick.
If you wish to make a claim under the ICP scheme, please complete the following ICP Claim Form
Additional Life Cover
The University of Limerick's Life Cover Plan is designed to ease financial burdens at a difficult time, by providing a benefit to a member's dependents in the unfortunate event of their death, up to the value of 2.5 times their annual salary. This benefit is in addition to your cover as a member of the University of Limerick Superannuation Scheme/ Single Public Service Pension Scheme.
The University of Limerick Life Cover Plan was due for renewal in May 2015. The Human Resources Division carried out a detailed review of the costs associated with the Plan and invited a number of suppliers to submit proposals for the operation of the plan from May 2015 onwards. Following consideration of these proposals, the University of Limerick has appointed Cornmarket Group Financial Services Ltd. as the Broker for the Plan effective from 1st of May 2015. The underwriting of the Plan will remain with Friends First as they have provided the most competitive quotation at this review.
We are delighted to announce a reduction in the premium rate from 0.558% to 0.53% of salary gross. In addition to this, a range of enhancements are now in place for members. For a limited time only, new applicants under the age of 45 joining the plan for the first time, will receive 50% off their rate of contribution for the first 12 months of cover. You can apply for the reduced rate of contribution membership by completing the ALC Preferential Application Form.
All other applicants can complete the ALC Standard Application Form.
Cornmarket recently presented a number of Additional Live Cover and Money Matters Information Sessions on campus. Presentation material can be found here - ALC & Money Matters Presentation
© University of Limerick Human Resources Division 2014. All rights reserved.University of Limerick, Limerick, Ireland, T: +353 (0)61 202700 | Disclaimer | Privacy & Cookie Statement | Enquiries | Location