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Life Savings Insurance
Life Savings Insurance is the life insurance cover your Credit Union takes out for all eligible members as an additional incentive to save regularly and maintain savings with the Credit union. Life Savings Insurance is paid for by your Credit Union. There is no additional direct cost to you, the member. This is a free service to members but Bray Credit Union can change this service at any stage and members will be notified.
Scheme Details
- The amount of insurance benefit which an eligible member is entitled to is in direct proportion to the savings and the age of the member.(Subject to a maximum benefit).
- Once earned, your insurance remains in force as long as you leave your savings in your Credit Union. Withdrawals may affect the amount payable.
- No insurance is payable on amounts saved after your 70th birthday.
- To be eligible for this scheme you must join your Credit Union before the age of 70 years and be actively at work, or if not working, be in good health.
- All claims must be processed within 2 years of the date of death.
Why not call into the Credit Union where our friendly staff can provide you with further details on this scheme.
