Unique to Credit Unions
Your savings may attract a lump sum payment towards your funeral expenses. (subject to terms and conditions, please click on the links below).
Last Year €280,000 in Death Benefit Insurance claims was paid out to our members.
Your savings attracts €1,950 towards funeral expenses and is payable in the event of your death.
The annual premium is paid jointly between the member and Cara Credit Union.
Members approve the annual premium at our Annual General Meeting. Once approved, the cost of the Annual Premium is €9.00 per member. Cara Credit Union pays half of this premium on your behalf with the remaining €4.50 deducted from eligible members’ Dividend.
If your Dividend does not cover you, you can pay the balance in our offices.
- You have paid the annual premium (from your Dividend or by direct payment).
- You have been a member for 3 months prior to your death.
- You joined before the age of 70.
- You have at least €300 in your Savings at all times (this does not apply to members under 16 years of age).
- Other terms and conditions may apply.
To make a claim please provide Cara Credit Union with a copy of the Death Certificate and the funeral invoice.
Please note just one copy of the Death Certificate is required to claim for all 3 insurance services; Life Savings Insurance, Loan Protection Insurance and Death Benefit Insurance.
For further information please contact Cara Credit Union on 066 712 2373