Loan Protection Insurance

Loan Protection Insurance is provided by your credit union for you, the member, at no extra cost. Should a member with an outstanding balance die, the balance is repaid in full, subject to certain terms and conditions which may apply. You should enquire when making a loan application to see if you are eligible.

This means that you can borrow from your Credit Union in full confidence that your dependants will not be obliged to repay the outstanding loan balance.

Am I Eligible?

Any Credit Union member is eligible for Loan Protection* insurance provided that:

• The borrower has not yet reached their 80th birthday.
• The borrower is actively at work or able to carry out occupational duties.
• If not working, the borrower must be in good health.
• In the case of joint accounts, terms and conditions apply.

* Terms and conditions apply for all members.

Death Benefit Insurance

A separate Death Benefit Insurance is payable over and above the Loan Protection and Life Savings insurance.

Death Benefit Insurance is intended to help towards funeral expenses and is payable where members have joined before the age of 71 and were in good health at the time. The amount of cover is 1,500 Euro.