Tel: (091) 844306 Fax: (091) 874118 Email: mail@athenrycu.ie

Life Savings Cover Life Savings Insurance

Life Savings Insurance is a free life insurance cover Athenry 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 is in proportion to the amount of savings the member has, and depends on the members age at date of lodgement.

Subject to a maximum benefit set by you Credit Union, 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 benefit:

  • €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 long as you leave your savings in your credit union. Withdrawals may affect the amount payable.

Example

You are 54 years of age with €3,000 saved in your account. Should you die at this age then an insurance benefit of  €3,000 will be added to your savings

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 of the credit union

What are the benefits?

The maximum benefit under the Life Savings Insurance that is paid out by Athenry Credit Union is currently €3,000

The Life Savings Insurance premium is paid for by Athenry Credit Union


Find Us here:
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  • Athenry Credit Union
  • Tel: (091) 844306
  • Fax: (091) 874118
  • Email: mail@athenrycu.ie
  • Web: http://www.athenrycu.ie
Athenry Credit Union is regulated by the Central Bank of Ireland and our Reg Number is 71CU