Home Union is the Credit Unions comprehensive home insurance policy, especially designed to make life easy for you.
Star Plan Travel Insurance is a comprehensive worldwide travel insurance policy available on either an Individual or Family basis exclusively to credit union members, providing extensive cover at competitive premiums.
Savings and Loan Insurance
Credit Unions offer double protection through Life Savings and Loan Protection insurance on the lives of their members.
Repayment Protection Insurance
Credit Unions offer a policy which meets your loan repayments for a specified period of time if you are forced out of work in certain circumstances.
Balbriggan Credit Union offers a full range of health insurance options through VHI.
Loan Protection Insurance;
Loan Protection Insurance is provided by your credit union for you, the member, at no extra cost. This means that in the event of death, the insurance cover provides that the loan is repaid in full. Each member of the Credit Union is eligible for loan protection insurance if they meet the following criteria:
- Have not reached your 85th birthday.
- Have signed a credit agreement when the loan is granted.
- Are actually at work (or physically capable of carrying out the normal work duties)
- If not working are in good health.
In the case of joint accounts both parties are insured.
Note: Members should not confuse Loan Protection Insurance (LPI) with Repayment Protection Insurance (RPI)
Life Savings Protection Insurance:
Life savings insurance is the life assurance cover Babriggan Credit Union provides for its eligible members (free of charge). The amount of insurance benefit to which a member is entitled is in proportion to the amount of savings the member has and benefits are payable only on the death of a member (some terms and conditions apply).
Savings Cover Limit
All Balbriggan Credit Union’s member shares are insured up to a maximum of €12,700.
Table of Benefits
|Age Limits||% of savings covered|
|Up to age 55||100% insured on balance or lowest balance thereafter||i.e. you will receive an extra 100% of your savings that are in your account up to a maximum of €12,700|
|Age 55-60||75% insured on balance or lowest balance thereafter||i.e. you will receive an extra 75% of your savings that are in your account up to a maximum of €12,700|
|Age 60-65||50% insured on balance or lowest balance thereafter||i.e. you will receive an extra 50% of your savings that are in your account up to a maximum of €12,700|
|Age 65-70||25% insured on balance or lowest balance thereafter||i.e. you will receive an extra 25% of your savings that are in your account up to a maximum of €12,700|
Effect of Withdrawals
- Withdrawals have a negative impact on Life Saving Benefit as the claim is based on lowest share amount after the age of 55.
- Amounts lodged after age 70 are not insured however withdrawals can effect benefits due.
For more information on any of the above insurance services you can contact us at 8411348