It is a Life Insurance cover your Credit Union provides to all eligible members as an additional incentive to save regularly and maintain savings with your Credit Union.
What are the Benefits?
Depending on your age and how much you have saved with Larne Credit Union over the years, Life Savings Insurance could provide your dependants with a substantial return on your death.
How does it work?
Every £1 saved by eligible members is covered by Life Insurance at no extra cost for each individual member! You are covered as long as you leave your shares in your Credit Union.
Insurance coverage:
Up to age 54---------------------------------------------- 100 %
Age 55-59--------------------------------------75%
Age 60-64---------------------------50%
Age 65-69---------------25%
If you save when over 70 years of age it adds to your security by amount. For members entitled to share and loan insurance: shares saved up to 70 years of age while left in the credit union provide cover to any age – even 100 plus!