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Loan Protection Insurance - We've Got You Covered
We are sensitive to cases in which an unexpected event could affect your loan repayments. Should a member with an outstanding loan balance die, the balance is repaid in full, subject to terms and conditions and certain cover limits. We offer free Loan Protection Insurance to all qualifying members who take out a loan with us (excludes mortgages).
To learn more, email related queries to our dedicated team. If you are interested in our range of Life Insurance Products from Peopl Insurance, please click here.
Loan Protection Insurance Details
- Subject to terms and conditions, including covered events
- Free to qualifying members who join CLCU before turning 71
- Potential loan protection for members up to 70 years, up to a limit of €100,000 (terms and conditions apply)
- Potential loan protection for members aged 70-85 years, up to a limit of €40,000 (terms and conditions apply)
Loan Protection Insurance Exceptions
We understand that losing a loved one is a difficult time, and we want to be there to support you in any way we can. However, there are some situations where our life insurance policy may not cover your claim. These include:
- Members who joined the Credit Union after 71 years of age
- Members who die of a pre-existing condition within 6 months of taking out the loan
- Deaths outside of Western Europe, North America, Australia, and New Zealand (unless on holiday)
- Deaths due to criminal activity, drugs, alcohol, or suicide
If you are unsure whether your claim is covered, please contact us. We will be happy to review your case and provide you with more information.