Income protection for permanent teacher, required?

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construct_06

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Income protection for permanent teacher, required?

paying €38 per fortnight for this, with cornmarket.

just wondering what would happen if teacher was to get sick for a long period of time, would they still get paid?
 
In answer to the original query, Income Protection is not compulsory, although it is certainly advisable.
 
yes, but just wondering is it right that as a teacher, in a permanent position is paying €500 per year to protect income even though this is one of the most secure jobs around at the moment. i know its not compulsory but if i knew what the entitlements were if the teacher were to be on say longterm sick leave, it would be easier to decide...
 
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is worth having a look at.

DES will stop pay after 12 months absence in a rolling 4 year period. This includes weekends and holiday periods, where relevant.

There is no discretion - they will cut off salary as soon as the above is reached, regardless of circumstances.

Do you need income protection? Not if you are sure you'll never get seriously ill in a c.40 year career.
 
thanks for that.

i read the part where you can availof the cornmarket income protection, i wonder can this be availed of from another provider? they seem to have a monopoly on this,although i suppose they tendered for this.

also does it cover for redundancy? if you are fired?

i think its a good option to have but an expensive insurance.
 
construct_06 said:
thanks for that.

i read the part where you can availof the cornmarket income protection, i wonder can this be availed of from another provider? they seem to have a monopoly on this,although i suppose they tendered for this.

also does it cover for redundancy? if you are fired?

i think its a good option to have but an expensive insurance.
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Sorry for delay.

I'm not recommending Cornmarket in particular - their high charges are well documented all over this area of AAM. You can use any provider. Cornmarket, however, are the only provider that you can pay by salary deduction with tax relief done for you and automatic cover increase as salary rises.

Don't think the Cornmarket plan covers redundancy - with this government that's a bit of a weakness.
 
oysterman said:
[broken link removed]

is worth having a look at.

DES will stop pay after 12 months absence in a rolling 4 year period. This includes weekends and holiday periods, where relevant.

There is no discretion - they will cut off salary as soon as the above is reached, regardless of circumstances.

Do you need income protection? Not if you are sure you'll never get seriously ill in a c.40 year career.
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Income Protection? YES, go for it! HOWEVER... I paid in to this scheme (not sure if I can name the Ins. Co???) and did benefit while I was on sick-leave and 'taking a legal case against my employer'. But as soon as the Case was settled and I was awarded a sum for 'personal injuries', they pulled the plug and said the settlement would cover the amount they'd have to pay until I would reach 60yrs, which is coming down the tracks pretty fast!! Very unfair treatment, but I was so wrecked I didn't even reply or follow it up. Any of you have similar experiences?
 
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Hi im also a teacher . I availed of my union scheme was very unsure at the start but to be honest think it was the best offer. Have higher benefits tax relief done at source. Not sure do i need it theough. More unsure after Prime Time
 
paul1964 said:
Hi im also a teacher . I availed of my union scheme was very unsure at the start but to be honest think it was the best offer. Have higher benefits tax relief done at source. Not sure do i need it theough. More unsure after Prime Time
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Didn't see the Prime Time stuff, but would still recommend the scheme. I have heard of folk 'fighting back' and getting their entitlement re-instated, but I was too shattered to try.

This conversation might give me a wee fillip!
 
As far as I know Cornmarket get all the insurance to tender for the income protection scheme?? The teachers scheme through them covers a whole lot of other things that the other insurance companies don't provide.
 
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