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Free Life Savings Insurance

Unique to Credit Unions

Your savings attracts FREE Life Cover!

Unlike other financial institutions this service is FREE to you.

Last Year nearly €700,000 in Life Savings and Loan Protection claims was paid out to our members.

While our insurance services do not relieve the emotional stress at this difficult time, they do go some way to relieve the financial stress.

Click the blue buttons below for more information.

What is Life Savings Insurance?

Life Savings Insurance is an additional incentive for you to save regularly and maintain saving with Tralee Credit Union.

In the event of your death, in addition to your Shares (Savings), your nominated person(s) will receive an additional lump sum of money from Life Savings Insurance.

Life Savings Insurance Calculation Guidelines

The amount insured will depend on your age at date of death and how much you saved with Tralee Credit Union over the years.

The maximum benefit is €7,700. Shares in excess of €7,700 and shares lodged after your 70th birthday do not earn any Life Savings Insurance.

As a guideline

Every €1 you save up to €7,700 with Tralee Credit Union provides the following insurance benefit

Shares lodged up to your 55th Birthday or lowest balance thereafter€1 per €1 saved
Shared lodged from your 55th to your 60th Birthday or lowest balance thereafter75c per €1 saved
Shared lodged from your 60th to your 65th Birthday or lowest balance thereafter50c per €1 saved
Shared lodged from your 65th to your 70th Birthday or lowest balance thereafter25c per €1 saved
Shares lodged from your 70th Birthday onwardsNIL

Withdrawal of Shares will impact on the amount of Life Insurance Cover received. Where possible, we would encourage members aged 55 years and over to borrow on the strength of their savings and not to withdraw from Shares.

Eligibility for Life Savings Insurance

To be eligible you must be a Tralee Credit Union member before your 70th Birthday, are actively at work, or if not working, are in good health.

Other terms and conditions may apply.

How to make a Claim?

To make a claim please provide Tralee Credit union with a copy of the Death Certificate.  If a Nomination is in place, monies will be paid out as requested in the Nomination.

If a Nomination is not available please provide details of the Solicitor handling the member’s estate and a copy of the Will (if applicable).

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 Tralee Credit Union on 066 712 2373

Is your Nomination Up to Date?

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