Loan Protection

    Loan Protection

The credit union also provides at no extra cost Loan Protection Insurance cover for eligible members, this is a life assurance benefit designed to clear the outstanding loan balance on the unfortunate death of a member. To be eligible for this insurance, a member must be actively at work or in good health on the date the loan is granted.  Again a Declaration of Health form may be required.  Loan Protection Insurance cover ceases at age 80.