Payment Protection

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Payment Protection

Credit Union Plus is now offering peace of mind for all members on new and existing loans, at a price you can afford. Have you ever wondered how you would manage to repay your Credit Union Loan if you were out of work due to accident, illness or unemployment? With our new Payment Protection Insurance we can arrange to have you covered.

Taking Insurance out on your Credit Union loan is easy and affordable.

  • It protects your ability to repay your loan, without taking money from your savings.
  • It protects you and your family from unforeseen financial hardships.
  • It reduces the worry associated with taking out a loan.

Eligibility:

You are eligible for cover as long as, at the commencement date:

  • You applied and were accepted for this insurance.
  • You are 18 or over, and under 70 years old, during the term of the loan.
  • You are working and do not know of any Accident/ Sickness or Involuntary Unemployment that is likely to happen to you.
  • You are employed for at least the previous 6 months at the date of signing your loan.
  • You are working 18 hours a week or more and have done so for the last 6 months.
  • You agree to pay the premium.
  • You are a current member of our credit union.
  • You are a resident of Ireland or the U.K.

So what is the cost of this Insurance?

The cost of the insurance is 7.99% or €7.99 per €100 repayments.

Please contact any member of staff at Credit Union Plus for further information; we will be happy to give you a quote on protection for your loan.

*Terms and Conditions may apply

Underwritten by Covéa Insurance plc

Covea Insurance plc registered in England & Wales, Company No. 613259 at Norman Place, Reading, RG1 8DA.

Covea Insurance plc is a wholly owned subsidiary of Covéa IARD Assurances Mutuelles, a company incorporated in France.

The Group Policy is arranged by CUNA Mutual Services (Ireland) Limited, a company regulated by the Central Bank of Ireland. KH5009.03.15

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