Insurances we offer
Life Savings Insurance
When you save with Cahir Credit Union your money can entitle you to a life savings insurance benefit of up to a current maximum of €12,700.
This insurance is fully paid for members by the credit union so there is no direct charge to members for the cover. You are eligible for this insurance if you save in Cahir Credit Union up to your 70th birthday. The amount of insurance you earn depends on your age and when you save the money.
In a share account, for every euro saved (up to €12700):
- Before 55 years – €1 cover
- Before 55-59 years inclusive – €0.75 cover
- Before 60-64 years inclusive – €0.50 cover
- Before 65-70 years inclusive – €0.25 cover
Death Benefit Insurance
All eligible members of the Credit Union are covered under the DBI insurance policy at no cost. This means in the event of your death a lump sum of €2,600 will be paid to your next of kin/family to help with the cost of the funeral expenses thereby easing the financial burden of bereavement.
If you are a member [hold a share balance of €10 or over] you are eligible for this insurance provided you've:
- Joined the Credit Union before 70 years of age
- Remained a member of the Credit Union
Loan Protection Insurance
Loan Protection Insurance is Life Insurance on your Credit Union Loan. Subject to terms and conditions, if you die your loan dies with you and is not passed on to your dependant's.
Cahir Credit Union Ltd. insures all eligible member's loans at no extra cost to the member so a big advantage to being a member that borrow's with Cahir Credit Union is that we pay the premium on your behalf.
Cover ceases on the member's 85th birthday. Loan Protection insurance is extended to include total and permanent disability from any occupation.
Loan Protection insurance is extended to include total and permanent disability from any occupation.