What is Covered?

Access Credit Union provides for its eligible members savings insurance as an additional incentive for them to save regularly. The amount of insurance benefit to which a member is entitled is in proportion to the amount of savings the member has, and depends on the member’s age at date of lodgement amount. Subject to a maximum benefit of €3,000, every €1 you save before the age of 55 provides €1 of insurance.

No insurance is payable on amounts saved after your 70th Birthday. Once earned, your insurance remains in force as long as you leave your savings in your credit union.

Withdrawals may affect the amount payable. A member is eligible for the insurance cover carried by the credit union if, when they begin saving, they are:

• Under the age of 70
• Actively at work, or if not working, in good health
• Remain a member in the Credit Union

Loan Protection Insurance is the insurance cover Access Credit Union provides on the lives of its borrowing members.

Should an insured borrower die or become totally and permanently disabled, the insurance cover provides that the loan balance will be fully cleared.

You will be informed at the time of the loan application if your loan exceeds the amount covered by the credit unions policy. Under the basic policy, death cover ceases on the eligible member’s 70th Birthday. Access Credit Union has extended this age limit to the member’s 80th birthday under the ’Over 70 Rider’ cover.

Disability cover however, ceases on the eligible members 60th birthday.