Information Circular No 14/2017: Notification of Increase in Group Specified Illness Premium

By Industrial Relations Officer

The PDFORRA Group Specified Illness Plan was scheduled for a 3 year rate review on 01/02/2017.

Following this review by insurers it was decided, based on the membership demographics and increased claims on the scheme, that an increase of €1.00 per week was necessary to maintain benefits at current rates.

The foregoing increase will result in a rise in subscription fees to €4.00 per week, per member for the next three years.  This increase is scheduled to commence in June 2017.

Since 2009, nearly €1.2 Million has been paid to 21 PDFORRA members and their families.

It is over 10 years since any change in rates and this increase in premium is required to ensure the plan remains viable.

The benefits applicable under the scheme include:

  • A weekly premium of €4.00 for benefits of up to €70,000 for individual membership.
  • A weekly premium of €8.00 for benefits of up to €70,000 for spouse and partner.
  • Children aged between 1- 21 are covered for payment up to €15,000 free of charge, and
  • Partial payments of up to €10,000.

All the foregoing payments are subject to the terms of the scheme.

 

Issued on the 05/05/2017

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