The term of assignment is most important as the existing law indicates that the assignment is available in Ireland. Under the current Irish Law, the benefit arisen from the insurance product can be assigned to outsider. For example, an employee can assign his/her benefit to outsider. The intention of social insurance is defeated by adoption Assignment clause. The benefit can be transferred to outsider with the consent of insured person as the assignment process. To address social insurance, the assignment cannot be operated in any other manner, as insured person only must be benefited rather than other outsider interested persons.
Pay- related social insurance known as PRSI. Out of other risks, PRSI is one type of social insurance product. Whatever contributions received from the employer or employee will be accumulated to the Social Insurance Fund. The employers are liable to pay the contributions with few exceptions. It is a scheme developed through the Irish law as specified. The scheme itself indicates that it is social insurance and it protects the persons as employees/self employed or other categories of persons. Based on the type of contributions collected from the persons, they will be categories such Class A, Class J, Class E etc. Benefits like Illness benefit, Career’s benefit, jobseekers’ benefit etc. will be available to the persons as per their eligibility, which depends upon the category of the person.
The purpose of insurance is quite some different from other contracts and there will be no substitute except the benefit derived from the insurance product and such benefit cannot be taken by any other person or any assignment even with the consent of insured person. It is true purchasing of insurance product is one type of contract. However, such contract should not override the objects of the contract provided. Hence, inclusion of clause in insurance contract is one type of risk and such risk can avoid removing assignment clause in insurance contracts.