Life Savings Insurance

Life Savings Insurance is cover the Credit Union provides for its eligible members as an additional incentive for them to save regularly. The amount of insurance benefit to which a member is entitled in i proportion to the amount of savings the member has, and depends on the member's age at date of lodgement.

Subject to a maximum of €10,200, every €1 you save before the age of 55 provides €1 of insurance. Once you are over the age of 55 each €1 you save with your credit union provides the following benefits:

• €1 saved between ages 55-59 provides €0.75 insurance
• €1 saved between ages 60-64 provides €0.50 insurance
• €1 saved between ages 65-69 provides €0.25 insurance

No insurance is payable on amounts saved after your 70th Birthday. Once earned, your insurance remains in force as log as you leave your savings in your credit union. Withdrawals may affect the amount payable. Calculations are based on shares lodged up to the age of 55, or lowest balance thereafter, for each category.

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
• Life Savings Insurance is only applicable to the first named person on a joint account

What are the benefits?

Depending on your age and how much you have saved with your credit union over the years, Life Savings Insurance could provide you dependents with up to €10,200 on your death.

We offer many services aimed at improving access to financial services and encouraging financial inclusion.