Insurance for Every Need

Life Savings Insurance

To reward members that save regularly, we provide a life savings benefit to eligible members in the unfortunate event of their death. The benefit paid depends on the amount saved, your age when the savings were made and the savings insurance cover limit is £10,000. The benefit payable may be reduced if you withdraw your savings. There is no direct cost to members for this unique service as the credit union pays the insurance premiums. Of course terms & conditions of cover apply.

Here’s how the insurance works:

• Savings lodged before age of 55: Every £1 saved provides £1 of insurance
• Aged 55-59: Every £1 saved provides 75p of insurance
• Aged 60-64: Every £1 saved provides 50p of insurance
• Aged 65-69: Every £1 saved provides 25p of insurance

Savings made after your 70th birthday are not covered by insurance, but savings made prior to that remain protected for life. Please note that withdrawals can reduce the total insurance amount.