NUI Galway Presentation September 2018

1. NUI Galway Presentation September 2018

2. Agenda

3. Over 40 years of experience you can trust • One of Ireland’s largest independent brokers • We are an Irish company with 350 staff and offices in Dublin, Cork and Galway • Mission is to bring financial wellbeing to every customer through expert advice, superior service & tailored products that represent excellent value for money

4. Income Protection Plan for NUI Galway Employees Review 2018

5. Income Protection Plan Review 2018

6. Membership History since Last Review At the last review in 2014 the viability of the scheme was in jeopardy as the numbers in the scheme were very low and the average age of members was increasing. However following the initiative by NUI Galway to include staff in a similar manner to the majority of University schemes in Ireland ,the viability of the scheme has been secured into the future with a reduction in the average of 6 years and membership levels of over 1,800 and new younger members being enrolled each year. Membership of the Scheme Average Age 2018 Review 1,856 Members 2014 Review 303 Members 2018 Review 44 years 2014 Review 50 years

7. Disability Benefits 2014 - 2017 Breakdown of Conditions of 58 Disability Claims Since 1st April 2014 • 2 claims were paid to the members retirement date • 3 were found to be fit to return to work and did return • 3 ceased for other reasons. • 50 claims were paid until the member returned to work - the average length of these claims was 91 days

8. Update Since Auto-Enrolment • Since auto-enrolment in 2014, Short Term claims are becoming more of a feature of the scheme • 9 members have made multiple claimsfor periods of absence ranging from 2 days to over 2 months. • The age of these claimants was from 36 to 59 • 3 members who initially made short term claims went on to submit full claims

10. Group Life Plan for NUI Galway Employees Review 2018

11. Group Life Plan Review 2018 145 Members currently in the Plan €282,000 Paid out since the Plan began 53 is the Average Age of a Member in the Plan

12. Example of Benefit • Salary Benefit • €35,000 €87,500 • €45,000 €112,500 • €55,000 €137,500 Key Benefit: 2.5x Salary

13. Auto Enrolment facility for NUIG Employees Actively At Work on the 26th of September 2018 • This means no medical underwriting is required. • There is an Opt Out facility: • Staff who do notwish to enter into the Plan, can opt out by completing an Opt-out Form • Opt out forms can be requested from the NUI Galway Pensions Department at pensions@nuigalway.ie. • It’s important to note that if you opt-out and want to re-join the Plan at a later date, you will need to complete an application form and undergo full medical underwriting.

14. Auto Enrolment facility for NUIG Employees Actively At Work on the 26th of September 2018 Actively at work means that you: are working your normal contracted number of hours, have not received medical advice to refrain from work, and are not restricted from fully performing the normal duties associated with your occupation. Those on paid and unpaid maternity leave are considered actively at work. Employees on paid leave/holidays are considered to be present at their place of work but must still meet the other requirements for ‘Actively at Work’. Staff who do not satisfy the above criteria on the 26th September 2018 may still apply to join the Plan at a later date on completion of an application form with specific eligibility requirements and which will contain medical questions criteria.

16. Income Protection New Claimants Experience Survey “I found it very easy to discuss my policy with Olive particularly during a very stressful time during my illness. I have already encouraged people to take out a salary protection policy.” “It was a comfort knowing everything was dealt with once the claims pack was sent out to me. Once I filled in all the details I had no more worries which was great because I was house bound for a lot of the time for my sickness & I wasn’t expected to go gathering work or doctor reports myself.” “Cornmarket delivered an excellent service. My claim was dealt with promptly and my claims administrator was knowledgeable and efficient.” “I would advise everybody to have salary protection as you never know when ill health will prevent you from working.” “At the time that I contacted Cornmarket, I had just received a diagnosis of breast cancer. Everyone I dealt with, from the initial contact through to a final decision on the claim, could not have been more helpful and professional.”

17. Q&A

18. Private Health Insurance ‘Best Deals to Save you Money’

19. Market Overview Our Comparison Service • Largest Health Insurance broker in Ireland • Unique comparison tool covering all insurers • Exclusive Discounts • Expert staff who deal in health insurance only • No obligation to accept our advice • Now includes Dental Cover • Multiple rate & plan changes • 335 plans to choose from • Difficulty making ‘Like-for-Like’ comparisons • Multiple ‘Special’ Offers • Quality Dental Cover now available

20. Is Switching Straightforward? • Credit for time served • No new waiting periods • No age loadings • Protection if an insurer goes bust • Upgrade rule may apply Did you know…. • Public treatment is not free • You can join any plan on the market • No insurer can refuse to insure you • There are no medicals or questionnaires to complete • There is no break in cover on switching

21. Insured on a Dated Plan? • Length of time on plan • Life-stage planning • Consumer vs corporate • Examples of dated cover

22. New Benefits • Scan & Send • Care in the Home • Infertility • Back-Up • Personalised Packages • Digital Doctor

23. Other Benefits Free Travel on some plans Prescription costs Vaccinations Child Counselling Money back on GP, Dental, Physio, Alternative practitioner visits Optical Benefits 2nd Opinion Service Nurse on Call Money back on Fitbits, gym membership etc Fertility Benefits

24. Plan Price Ranges Rates Correct @ 1/1/18 as per HIA

25. Sample Best Buys: €1,100 + per adult Comp. Plan Plus L 1.3 (€1,128) Simply Connect (€1,100) €1,133 inclusive of dd charge 4D Health 1 (€1,045) no day-to-day Befit 1 (€1,107) discounted Rates correct at 1st August 2018 - Source HIA

26. Sample Best Buys: €1,200 + per adult PMI 3613 (€1,242) Simply Connect Plus (€1,250) €1287.50 inclusive 3% DD charge 4D Health 2 (€1,213) 2 free packages Rates correct at 1st August 2018 - Source HIA

27. Sample Best Buys:Private Room Company Plan Extra L1 (€1,548) Connect Simplicity (€1,330) €1,370 inclusive of 3% DD charge 4D Health 3 (€1,409) 3 free packages Befit 3 (€1,363) discounted Rates correct at 1st August 2018 - Source HIA

28. For More Cost Savings… • Split your cover or provider • Ensure you’re receiving Young Adult Rates • Take on a small Excess • Seek the Corporate plan equivalent • Watch for ‘Special Offers’ • Annual review is essential Talk to us on: (01) 470 8091

29. Dental Insurance through Cornmarket * Annual maximum of €500 per year for crowns, inlays & onlays

30. Dental Insurance through Cornmarket • Provides a platform for a lifetime of improved oral health • DeCare Dental Insurance plans encourage regular dental care through a healthy smiles approach Rates correct at 1st August 2018

31. Comparison Service Contact Details • (01) 470 8091 • On-line enquiry • Enquiry card Our Approach • Expert & Confidential • Covers all providers • Impartial Advice www.cornmarket.ie

32. Financial Planning

33. Retirement Planning Pre Retirement - Review AVCs Increase Pension Tax Incentive Superannuation benefits Social Welfare Entitlements Post Retirement - Review Life Cover Savings and Investments Inheritance Planning

34. Car Insurance Public Sector Car Insurance • Comprehensive driving of other cars • No claims bonus protection • Choose from 2 levels of cover • 24 hour Breakdown Rescue, Driveway Assistance, Windscreen Cover • Unique benefits – Malicious Damage / Comp DOC / Liability to employers • Lowest excess from €250 • Safe Drivers Discount At renewal: • Shop around • Get 3 quotes • Check the Ts & Cs

35. Home Insurance Public Sector Home Insurance • Home Rescue Service • Increased limits for food loss • Credit card/money Stolen from home • Fire Brigade Charges up to €2,000 • Accidental damage (additional benefit) • Unspecified valuables (additional benefit) At Renewal • Shop around • Get 3 quotes • Check the excess

36. Travel Insurance Travel Insurance €55.60 €85.00 €72.40 €64.00 FAMILY AMT FAMILY AMT PHI INDIVIDUAL AMT PHI INDIVIDUAL AMT Cover for 2 Adults and their dependents Family cover with health insurance discount Cover for 1 Adult (and their dependents) Individual cover with health insurance discount

37. 82% of PAYE Workers overpaid Tax in 2017 The average refund in 2017 was €1,100 Tax

38. IMPORTANT NOTE • The information contained in this document relating to the Income Protection and Group life schemes is for information on NUI Galway Income Protection and Group Life schemes for NUI Galway employees. The complete Terms & Conditions of the Schemes will be detailed in the Scheme Policy Documents which are issued by the underwriters. The information in this document is confidential and/or privileged material.   Any review, retransmission, dissemination or other use of, or taking of any action or reliance upon this information by persons or entities other than the intended recipient for this particular review is prohibited. • The Income Protection claims Information provided by Irish Life April 2018. The Group Life Claims and Membership Information supplied by Friends First September2018 • With effect from the 1st of October 2018 the Income Protection Scheme and Group Life Plan will be underwritten by Irish Life. • Cornmarket Group Financial Services Ltd. is regulated by the Central Bank of Ireland. A member of the Irish Life Group Ltd. which is part of the Great-West Lifeco Group of companies. Telephone calls may be recorded for quality control and training purposes. Irish Life Assurance plc is regulated by the Central Bank of Ireland.