Insurance
Life Savings Insurance
This is the cover the credit union takes out for all eligible members as an additional incentive to save regularly and maintain savings.
Maximum insurance cover is £10,000.00
- Every £1 saved before 55 = £1 cover
- £1 saved during 55 – 59 = 75p cover
- £1 saved during 60 – 64 = 50p cover
- £1 saved during 65 – 69 = 25p cover
On joining the Credit Union you will nominate who you would like to leave your money to in the event of your death. Any savings you have will be paid to your nominee by cheque along with any monies paid out by the insurance company.
ALL CLAIMS ARE SUBJECT TO THE TERMS AND CONDITIONS OF ECCU INSURANCE.
Death Benefit Insurance
In the event of a members death there will be a cheque issued for the sum of £1500 for funeral expenses. This cheque will be made payable to the Funeral Directors.
To qualify for the above insurances you must join before your 69th birthday, keep a minimum balance of £100 in your shares for 1 year and maintain it thereafter.
ALL CLAIMS ARE SUBJECT TO THE TERMS AND CONDITIONS OF ECCU INSURANCE.
