Irish Life Health
Welcome to Ireland’s newest health Insurer, Irish Life Health. Bringing fresh options and innovation to the health insurance market.
Irish Life
Irish Life the largest life and pensions group and fund manager in Ireland, employing 2,000 people and servicing one million customers.
Irish Life Investment Managers
Managing assets in excess 39bn, ILIM manages money on behalf of multinational corporations, charities and domestics.

News - Irish Life Corporate Business

Posted on October 12, 2016

Budget 2017 contained no changes relating to private pensions.
 

It has been announced that the State Pension and all other social welfare pensions are to increase by €5 per week from 1 March 2017.

Other items of interest

  • The DIRT rate is to be reduced from 41% to 39% in 2017 (and it is planned to reduce it to 33% by 2020). There was no reference to a reduction in the exit tax applied to life assurance policies. The publication of the Finance Bill should provide further clarity on this matter.
  • The tax free thresholds for Capital Acquisitions Tax have been increased. In particular the Class A Threshold (applying to children inheriting from parents) has been increased from €280,000 to €310,000. Class B and C have been increased marginally.
  • There has been a reduction of 0.5% in the three lower USC rates.

We will of course review the Finance Bill when it is published to see if it contains any unannounced changes in the pension area.

Posted on August 02, 2016

Irish Life Health established following health insurance acquisitions
Set to be a new force in the Irish market

Tuesday 2 August, 2016: Irish Life Health has been established as a new force in the Irish health insurance market. This follows the completion of Irish Life Group’s transactions to acquire Aviva Health and assume control of GloHealth, where Irish Life previously had a 49% shareholding.

This move is a positive development for competition in the Irish market, and gives customers a compelling alternative to the existing health insurance offerings.

By offering innovative, good value health insurance plans and exceptional customer service to Ireland’s two million health insurance customers, Irish Life Health aims to grow the existing 420,000 customers and 21% market share of the existing combined Aviva Health and GloHealth businesses.

Current customers will continue to enjoy all of the benefits of their health insurance cover and do not need to take any action. Over the next month or so, Aviva Health will begin rebranding to Irish Life Health. From later this year GloHealth customers will be invited to join Irish Life Health as their policies come up for renewal. All customers will be communicated with well in advance of any change.

Commenting on the establishment of Irish Life Health, David Harney, Chief Executive, Irish Life Group said: “Through the acquisition of these two very strong existing businesses, backed by the market knowledge and financial strength of Irish Life, we will create a significant new force in the Irish health insurance market. It is our intention that Irish Life Health will become the benchmark for health insurance in Ireland.”

Posted on June 09, 2016
Currently retirement readiness depends heavily on the State Pension. It is projected that the State Pension will become unsustainable in its current form due to demographics. *
Irish Life EMPOWER aims to achieve better outcomes at retirement for members so that they will have an adequate pension whether the State Pension is available or not. This article will discuss how Irish Life EMPOWER can benefit employees when it comes to saving for their retirement.
Posted on June 09, 2016
Trustee duties fall under two main headings. They are:
 
1. Duties under Trust Law.
 
And
 
2. Duties under the Pensions Acts. 
Posted on June 08, 2016

Irish Life, the leading provider of income protection benefits in Ireland*, paid out over €53 million to people who were unable to work due to illnesses or injuries during 2015. An analysis of Irish Life’s claims data provides a valuable insight into the health of the working population, and includes a breakdown of the illnesses and conditions that led to over 3,000 Income Protection claims being paid in 2015. 

Posted on May 16, 2016

Further insights into the habits of Ireland’s workforce have been revealed through recent employee research carried out by Irish Life*. The research found that Ireland’s workforce remains committed to their jobs, with over a third of employees in Ireland stating they have never missed a day in work. However, Ireland’s workforce are not as dedicated to securing their financial future, as they are only saving an average of 10% of their salary into a pension fund, Irish Life figures show. 

Posted on April 14, 2016

Irish Life held a major pensions conference attended by almost 200 delegates in Dublin today.  On the theme “Empowering Retirement” speakers discussed new initiatives to engage members of defined contribution pension schemes. Recent research conducted by Irish Life shows that only 29% of us know how much we need to live on in retirement,* and the conference focused on ways to help Irish people become more retirement ready.

Posted on March 10, 2016

9 March, 2016 – The Irish Life Group, the parent company of Irish Life, Ireland’s leading provider of life insurance, pensions and investments, has announced agreements to acquire Aviva Health and to take full 100% ownership of GloHealth.

Over two million health insurance customers will benefit from the combination of the two businesses and the creation of a significant new force in the health insurance market.

Posted on November 16, 2015

To ensure our Personal Lifestyle Strategy (PLS) remains at the forefront of innovation in the Irish Defined Contribution (DC) pension market, we undertake an annual review of the overall process and the PLS constituent parts.

Posted on September 18, 2015

Today our colleagues in Irish Life Retail published a review of their data for their personal pension customers. This shows that the average pension contribution during the first half of this year was €562 per month, compared to €372 per month in 2010. In the last five years alone, the average contribution on new personal pension plans has increased by over 30%. 

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