Loan Protection Insurance

Loan Protection Insurance

Because Antrim Credit Union exists to serve its members, it aims to offer fair and reasonable rates on savings and loans. But this isn’t the only advantage to saving and borrowing with Antrim Credit Union. We offer Loan Protection Insurance at no direct cost to all eligible members.

The insurance is underwritten by the Credit Union movement’s insurance company, ECCU Assurance Company Limited and is paid for by the Credit Union. Members pay no individual charge.

What is Loan Protection Insurance?

Loan Protection Insurance is the cover the Credit Union takes out on the lives of eligible members with Credit Union Loans.

What are the benefits?

Should a member with an outstanding loan balance die, the balance is repaid in full, subject to certain cover limits which apply. You should enquire when making your loan application to see if you are eligible.

If you are an eligible member, this means that you can borrow from Antrim Credit Union in the full confidence that your dependants will not be obliged to repay the outstanding loan balance in the event of your death.

Am I eligible?

Any Credit Union member is eligible for Loan Protection insurance provided:

  • The borrower has not reached their 85th Birthday.
  • The borrower is actively at work or able to carry out normal occupational duties.

For further details on any of the above information, talk to us today by calling 028 94466859 and we will be happy to answer any of your queries.

Find out more about Death Benefit Insurance here.

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