Loan protection insurance covers the loan balance of all eligible members in the event of their death or permanent disability. Should a member with an outstanding loan balance die the balance is repaid in full, subject to certain cover limits which may apply. Loan protection insurance is provided to eligible members of the Credit Union at no direct cost to the member.
Who is eligible for Loan Protection?
- Members aged between 16 and 84
- Members in paid employment and actively at work
- Members not working who are in good health
- Members who joined the Credit Union before their 70th birthday
