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salary protection

  • 06-06-2008 2:21pm
    #1
    forestfruits
    Registered Users, Registered Users 2 Posts: 572 ✭✭✭


    Anyone signed up for the cornmarket salary protection scheme or know much about it? im hearing mixed reports


Comments

  • #2
    littletiger
    Registered Users, Registered Users 2 Posts: 256 ✭✭littletiger


    I am working in an IOT and have asked my HR manager some time agoabout the same. I can't remember exactly what he said but it was enough to make me decide not to worry about it for the medium term. He informed me that we are automatically covered with full pay for being out of work for up to a year and i think there is also some cover after that. I think the problem with some of the private covers is that they only cover up to a particular time limit. I am not sure what kind of offer cornmarket. Heav you details?


  • #3
    forestfruits
    Registered Users, Registered Users 2 Posts: 572 ✭✭✭forestfruits


    it covers for as long as is needed and apparantly pays out in 98% of cases, as im not in a permanent position id only be covered for 13 weeks of sick pay in i remember correctly. And its costing about a tenner a week


  • #4
    corcaighcailin9
    Registered Users, Registered Users 2 Posts: 686 ✭✭✭corcaighcailin9


    forestfruits wrote: »
    apparantly pays out in 98% of cases

    That's what Cornmarket would have you believe but in reality it's far from 98% of cases they pay out on. I sat through the presentation from a Cornmarket rep last year and was bamboozled with all the figures. The rep was really pushy and in a follow-up 1 to 1 meeting, we went through my earnings and expenditure. He could see things are a little tight for me at the mo having just bought a house a year ago. However he still tried to force me to sign up to things I know I don't need at this stage of my life - like the salary protection and AVCs which I don't intend to start til I'm 30 (incidentally when I asked him the difference in cost between starting now and in 6 years time, he couldn't tell me the difference - if I paid in 60euro now til I'm 55 and if I waited til I'm 30 and paid in 60euro also, there would be no difference in the amount I would receive, go figure). He wanted me to switch health insurance providers as well and misled me about the benefits I would enjoy if I switched. When I wouldn't sign up to anything as I wanted to discuss my options with my partner, he said "pity you can't make a decision on your own". Also, they earn commission on everything they sell you.
    Final point as regards Salary Protection, a colleague of mine told me that a teaching friend of hers suffered heart trouble and was out sick. Both her own doctors and the DES doctors said she wasn't fit to return to work yet miraculously the Cornmarket doctor said she was well enough to go back and they wouldn't pay out. Apparantly, this isn't unusual.


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