Insurance

My place for insurance

Kiltimagh credit union offers all eligible members insurance services. Some of these insurance services are paid for directly by the credit union. The insurance covers currently provided by the credit union in respect of eligible members are:

Loan Protection

DSCF0726

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 85th Birthday
  • The borrower is actively at work or able to carry out occupational duties
  • If not working, the borrower must be in good health

Life Savings

1982342_968286379858546_2826124114653709808_nLife Savings Insurance is payable on the death of the eligible member, subject to policy terms and conditions.

  • The insurance benefit payable will be in proportion to the amount of savings that a member has made during the term of membership.
  • The benefit is also dependent on the member’s age at the date lodgements are made to the account.
  • Amounts saved after the 70th birthdays are not insured. However, cover built up before the 70th birthday remains in force after the 70th birthday.
  • Withdrawals of savings can affect Life Savings cover and any withdrawals are considered as from last in deposits.
Age Amount Saved Savings Insurance Cover
0 to 54 yrs for every €1 saved You get €1 cover per €1 saved
55 to 59 yrs for every €1 saved You get €0.75 cover per €1 saved
60 to 64 yrs for every €1 saved You get €0.50 cover per €1 saved
65 to 70 yrs for every €1 saved You get €0.25 cover per €1 saved

This is subject to a maximum of €12,700.