What's the difference between personal income protection and a group scheme?
PriceThe SIPTU scheme charges 2.45% (but does include some life insurance too) so Annie would pay 2.45% x €44,401 = €90 compared to €79 through one of our insurers.You can fix our price, the group scheme price will increase as your income increase.Change of JobsShould you leave nursing you can take your personal policy with you to your new job. So even if you have to leave nursing due to a health issues, that issue will still be converted in your new job.The minute you leave nursing, the group scheme policy will endChoice of ProvidersThe SIPTU scheme is underwritten by New Ireland.Should you go for a personal policy you can choose from Aviva, Irish Life, New Ireland, Royal London or Zurich Life.This is especially important if you have a health issue that may be underwritten more favourably at a different insurer so you can avoid exclusion for that condition.Aviva has retraining and rehabilitation benefits that are unmatched in the market making them our preferred provider of income protection.Here’s how we compare income protection providers.