NEED INSURANCE?
Castleblayney Credit provides the following types of insurance for its members.
Life Savings And Loan Protection Insurance
Life Savings Insurance is provided on Savings up to a maximum of €12700 at no charge to the member. The amount of insurance benefit payable on the death of the member is based on the age of the member at the time the savings were lodged.
The following illustrates the benefit payable:
Under 55: Every €1.00 saved provides €1.00 of insurance
Between 55 &69: Every €1.00 saved provides .75c of insurance
Between 60 & 64: Every €1.00 saved provides .50c of insurance
Between 65 & 70: Every €1.00 saved provides .25c of insurance
Savings lodged on or after the 70th birthday are no covered by insurance. To be eligible for Life Savings Insurance a member must be
- Under 70 years of age
- Actively at work
- Or if not working must be in good health at the time the savings were lodged.
Remember
If you are aged 55 or over and are unsure of the benefits applicable to you under the Life Savings Insurance Scheme feel free to ask for advice before withdrawing savings from your account. We will be only to glad to advise you of your position.
LOAN PROTECTION INSURANCE
Castleblayney Credit Union provides Life Insurance Cover on the lives of all borrowing members and there is no upper limit. Loan protection is provided to members up to the age of 85. There is no charge to our members for this service.
Terms and Conditions apply.
DEATH BENEFIT INSURANCE
Death Benefit Insurance is an additional cover available to members as an extra to Life Savings Policy. It provides benefit of €1300 to be paid on the death of the member which goes towards funeral expenses. There is no charge to the member for this extra cover.
