Loan Protection Insurance is provided to members at no direct cost to them. This product clears your outstanding loan balance in the event of death subject to policy conditions. In the event of your death, E.C.C.U. (the credit union insurance company) will clear your loan balance — it will not have to be paid off from your savings or by your family!


Insurance Cover on Savings Savings Insurance Cover
Age under 55 Every £1 provides £1 of Insurance
55 -59 Every £1 provides 75p
60 – 64 Every £1 provides 50p
65 – 69 Every £1 provides 25p

Savings lodged after 70th birthday are not covered by insurance


Age Insurance Total
£100 SAVE UNDER 55 +£100 +£200
£100 SAVED UNDER 55-59 +£75 +£175
£100 SAVED UNDER 60-65 +£50 +£150
£100 SAVED UNDER 66-70 +£25 +£125

This product covers your outstanding loan balance in the event of death (subject to policy conditions)

Every borrowing member is eligible for Loan Protection Insurance if they are:

  • actively engaged in the usual duties of his/her livelihood on the date they receive
    the loan, or
  • if not working, that they are in good health and capable of performing the usual duties
    of their livelihood on that date.

Insurance cover on loans ceases at age 80. Members pay no individual charge.


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