Loan Protection Insurance
In Castleblayney Credit Union, the outstanding loan balances of eligible members are automatically insured at no direct cost to the member. This means the loan debt will be wiped clean in the event of the members death. Banks and other financial institutions charge a separate insurance premium on top of loan repayments for this service. You can take out a credit union loan in the full confidence that your next of kin will not have to pay it off should you die. Note: Terms and Conditions Apply
Is there an age limit for Loan Protection Insurance?
The age limit in respect of loans is 85 years – this means you can borrow up to age 84, however the loan must be cleared by age 85 for the insurance cover to apply.
Are joint accounts insured?
Yes. Both parties to a joint account are insured, subject to eligibility.