BENEFITS & RATES
With effect from 01 January 2021. Benefits and Premiums shown are guaranteed for 5 years. Cover ceases on 85th Birthday.
Serving and Retained Members
Irish Life Group Life Assurance Plan
| AGE BAND | BENEFIT | PREMIUM |
| 17 – 28 | €150,000 | €15.23 |
| 29 – 35 | €250,000 | €25.38 |
| 36 – 50 | €350,000 | €50.75 |
| 51 – 55 | €325,000 | €50.75 |
| 56 – 60 | €310,000 | €50.75 |
| 61 – 65 | €200,000 | €40.60 |
| 66 – 70 | €100,000 | €48.72 |
| 71 – 74 | €40,000 | €30.45 |
| 75 – 84 | €9,200 | €30.45 |
Spouse Members
Irish Life Group Life Assurance Plan
| AGE BAND | BENEFIT | PREMIUM |
| 17 – 28 | €150,000 | €11.17 |
| 29 – 35 | €250,000 | €19.29 |
| 36 – 50 | €250,000 | €35.02 |
| 51 – 55 | €220,000 | €35.02 |
| 56 – 60 | €205,000 | €35.02 |
| 61 – 65 | €130,000 | €45.68 |
| 66 – 70 | €75,000 | €45.68 |
| 71 – 74 | €15,000 | €15.23 |
| 75 – 84 | €5,500 | €15.23 |
CAOGA Friendly Society Scheme
| AGE | SUBSCRIPTION | BENEFIT |
| Member to 70th Birthday | €10.00 | Official €10,157.90 Discretionary €9,523.40 |
| Spouse Member to 70th Birthday | €5.00 | Official €10,157.90 Discretionary €6,983.56 Funeral Benefit €4,000 |
| Child over 10 to 25th Birthday | Free | €4,000 |
| Child under 10 years | Free | €1,269 |
CAOGA Benevolent Fund
| CATEGORY | SUBSCRIPTION | BENEFIT |
| Serving Officers | €2.00 | Grants |
CAOGA Friendly Society subscriptions (less 20%) are refundable to members at 70 years of age.
CAOGA GROUP LIFE ASSURANCE PLAN RENEWAL
JANUARY 2021
Dear Member,
The Management Committee of CAOGA has recently finalised a renewal of the Group Voluntary Life Assurance plan with service provider Irish Life. CAOGA worked hand in hand with Cornmarket to negotiate the most competitive rates and benefits for its members and Irish Life has guaranteed the premium for 5 years until December 2025.
A marginal increase in premium was required to ensure that members will continue to receive the essential benefits provided by the plan over a 5 year term.
As always, important considerations informing the committee’s decision-making process were the financial pressures experienced by young mortgage holders and the desire to ensure that age categories of greatest need are appropriately covered in line with our primary objective “to protect the long-term financial security of the members’ family in the event of the death of a key member of the family”.
Cadets
Cadets who join the Plan at first opportunity will be underwritten by our insurance provider, Irish Life, free of charge for benefit of €30,000 until commissioning.
Tax Relief
All serving officers are in receipt of tax relief at source on their Group Life Assurance premiums.
Terminal Illness Cover
On certification by a medical specialist of terminal illness, with expected death within twelve months, 30% of the death benefit will be paid in advance. This does not apply to members aged 66 years and over.
Child Benefit
Children of members have free cover of €5,000 up to their 25th birthday, this benefit will apply for the lifetime of a member’s child who has special needs. This is in addition to the cover provided under the CAOGA Friendly Societies scheme.
Please be advised that retired/retained members who voluntarily undertake employment abroad are obliged to inform CAOGA in advance and may not be covered for such employment.
Contact with CAOGA Office
The CAOGA office is based in Mckee Bks, Dublin. You can contact the Secretary Comdt Ciara Murray 01-8042785 or the CAOGA Administrative Officer Ms Judy Farrell 01-8042786. Email/website info@caoga.net www.caoga.net