Life Savings Insurance

What are the benefits? 

Depending on your age and how much you have saved with your credit union over the years, Life Savings insurance could provide your dependants with up to €5,000 on your death. 

The first named member only, on a Joint Account is covered for Life Assurance on Savings.

Eligibility for Life Assurance cover on Savings

All Members are automatically covered for Life Assurance on Savings up to the current maximum benefit of €5,000 *, regardless of their state of health.

Terms and Conditions apply to all Life Assurance and Insurance products.

*the insurance maximum benefit may vary from time to time

Subject to a current maximum benefit of €5,000 * :

  • every €1 saved before the age of 55 provides €1 of Assurance cover
  • every €1 saved between ages 55-60 provides €0.75 of Assurance cover
  • every €1 saved between ages 60-65 provides €0.50 of Assurance cover
  • every €1 saved between ages 65-70 provides €0.25 of Assurance cover

There is no Life Assurance cover on amounts saved after your 70th Birthday.

However, the Life Assurance cover earned on your Savings up to your 70th Birthday will remain in force as long as you leave your Savings in the Credit Union