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Death benefit insurance

Kilnamanagh Credit Union provides death benefit insurance of € 3250 for adults who have at least €65 in their shares and children who have at least €15 in their shares.

All this at no direct cost to the member, as the Credit Union pays for this from general funds.

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life savings insurance

In the event of your death your nominees can receive up to twice your shares depending on your age. Nomination forms are available in the credit union office and may be changed at any time if you wish to do so.

Insurance Cover Provided.

As a member you are eligible for the insurance cover carried by the credit union

If you are under the age of 65 years.

For every €1 you save.

AGE	COVER
Before 55	Provides €1 of insurance
During 55 – 59 inclusive	Provides 75 cent of insurance
During 60 – 64 inclusive	Provides 50 cent of insurance
During 65 – 70 inclusive	Provides 25 cent of insurance

This insurance is free for all members.

The maximum amount of shares covered = €20,000.00

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Loan protection insurance

“The debt dies with the debtor” is a core Credit Union concept. Any member under 85 years of age who takes out a loan while in good health has the loan automatically insured in the event of their death.

Every credit union borrower who:

Is carrying out the normal duties of his/her occupation in the normal manner or is fit to carry out such duties in the normal manner or is in good health: and
Signs the agreement when the loan is granted:
A member not meeting the above conditions may not be eligible for loan protection cover if he/she completes a declaration of health form provided by the insurer and submits this to the insurer for consideration.

There is no cost to the member for this cover.

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