The payment does not form part of the insured's estate. The plan comprises a lump sum benefit paid in the event of death, serious illness or total and permanent disability. The plan can be written on a single life basis, with only one planholder insured. Alternatively, the Plan can be written on a joint life basis with the benefit payable on the first claim. No medical examination is required subject to the planholder satisfactorily answering six short lifestyle questions.
Premiums are fully deductible from income tax at the standard rate.
VHI has introduced e-commerce facilities for its corporate customers, which should reduce administration, facilitate speedy exchanges of data and improve its customer service. The portal will provide relevant and up to date information on all health related matters. VHI have also appointed a dedicated account management team for Law Society members. The account management team are available to provide a range of information services to members and updates on the new service initiatives being introduced by VHI Healthcare. A similar group scheme has been established with BUPA Ireland on behalf of Law Society members.