Killarney Credit Union

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Insurance

Rest assured with our insurance services

 
Telephone

064 KillarneyCU6631344

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Email

info@KillarneyCUkillarneycu.ie

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Locations

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Telephone

064 KillarneyCU6631344

link

 
Email

info@KillarneyCUkillarneycu.ie

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Locations

Click to view

link

Become a Member
Contact Us
This email address is being protected from spambots. You need JavaScript enabled to view it.
Killarney Credit Union

Insurance

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Insurance

Member Insurance Products

 

What is Life Savings Insurance?

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Life Savings Insurance is cover that is payable on the death of the eligible member. The insurance benefit payable will be in proportion to the amount of savings that a member has made. Savings are topped up by €5,000 on the death of the member. 
The benefit is also dependent on the member’s age at the date that lodgements or withdrawals are made to the account.
Any amount saved after the members 70th birthday is not insured. However, cover built up before the 70th birthday remains in force after the 70th birthday. Withdrawals of savings can affect Life Savings cover as any claim is based on the lowest share balance after the age of 55. 

 

What is Loan Protection Insurance?

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The outstanding loan balances of eligible members are automatically insured at no direct cost to the member on their death. Members can take out a credit union loan in the full
confidence that their dependents will not have to repay the loan on death or total and permanent disability (subject to terms and conditions).

Killarney Credit Union covers loans for members until they reach their 85th birthday. Only the first named person is covered on a joint account. Both members must sign the
credit agreement. Both members must complete and sign a separate ECCU Declaration form (new) when appropriate.

Total Permanent Disability cover for members aged over 70 is €40,000. If a member has a loan in excess of €40,000 at age 70,cover will still reduce to €40,000. The disability must commence before the 60th birthday. 

All insurance policies are subject to terms and conditions.
Loan Protection Insurance repays the loan balance of the loan in the event of a member’s death. Cover is available for those in good health or carrying out normal duties at the time the loan is granted. Members can take out a credit union loan in the full confidence that their dependents will not have to pay the loan on death.

 

Whats is Death Benefit Insurance?

This insurance provides basic Life Insurance cover of €1,000 to help pay towards the members funeral expenses. In the unfortunate event of accidental death, the Life Insurance will double to €2,000. Payment will normally be made directly to
the Funeral Undertaker or to a family member who can provide evidence that they have paid the funeral expenses. This insurance is provided free of charge.
The eligibility criteria include members who:
• Joined the credit union before 70 years of age.
• Remained a member of the credit union.
• Are or have been eligible for cover under the Life Savings Policy.

 

Download our insurance guide... 

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Click the icon below to download our insurance guide in PDF format

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Repayment Protection Insurance

Repayment Protection Insurance


Repayment Protection Insurance is an optional insurance policy that meets your loan repayments for a specic period of time, if you are forced out of work by any of the following events:
• Accident (cover up to 24 months)
• Sickness (cover up to 24 months)
• Unemployment (due to redundancy/business failure)
(up to 12 months)
• Critical illness (lump sum – certain illness may be excluded)
You can take out a Repayment Protection Insurance when you enter into a loan agreement or top up an existing loan with Killarney Credit Union.


What are the benefits of Repayment Protection Insurance?

The maximum monthly benefit payable under the policy is your loan repayment or €2,000 whichever is the lesser. The benefit is payable up to a maximum of 24 months for accident & sickness benefit or 12 months for involuntary unemployment. If you are diagnosed with specified critical illness a payment may be made under the policy.

The key benefits of the policy is that you don’t need to dip into your savings to keep up repayments when you are unable to work due to any of the conditions listed.

Other advantages are:• The breadwinner clause is included.• The same rate is applied to all borrowers.• No medical examination is required when applying.


How much does Repayment Protection Insurance cost?

The premium rate is 8.99% of the loan repayment. Therefore, if your loan repayment is €100 per month, the premium will be €8.99 per month that you pay. You will pay €100 loan repayment to your credit union and €8.99 to the insurance company. This payment has to be made by direct debit or standing order to the insurance company. Repayment Protection Insurance is provided by the Warranty Group which is regulated by the Central Bank of Ireland.

Interested, what to do next?

Speak to a staff member and enquire about a repayment protection insurance product.

Download Insurance Guide for more information

 

Insurance Affinity Partners

Killarney Credit Union works with a number of partners in offering members a range of credit union insurance products. These include car, home, travel, health insurance products.

 

Coveru:

Cover U

Coveru.ie is a new suite of insurance services brought to you by credit unions and AIG. Coveru.ie offers great value to credit union members on home, car and travel insurances.

Ask for a quick quote online via the coveru.ie website.Over the phone by contacting AIG Customer Service 1890 410 410. 

 

Axa 

AXA Will CU Right

Axa offers a 10% discount on car and home insurance products for credit union members. For enquiries drop into AXA, 6 Denny Street, Tralee, email This email address is being protected from spambots. You need JavaScript enabled to view it. or phone AXA on 1890 336 339.

 

VHI

VHI

VHI offer member discounts for group schemes. Call 1850-211558. 

 

 

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He's our friendly new mascott! Come and find out more in our Junior Members section!

Great loan interest rates from as low as 

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More Information

For more information about any of our services please feel free to contact us directly.  We will be happy to help in any way we can.

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Loans

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Join Killarney Credit Union

Have you been thinking about joining the credit union for a while? Well, now is the time to act! We are looking for new members to be part of our South Kerry credit union community. Young or old, we welcome all ages to join us.

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Cultivate Loans from Killarney Credit Union

Loans to meet the needs of the farming community - Cultivate provides quick & easy access to short and medium term farm finance. Click to read more!

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