Why Save? | Life Savings Insurance | Frequently Asked Questions

What is Life Savings Insurance?

Life Savings Insurance is a life insurance cover Dungannon Credit Union Ltd provides freely to all eligible members as an additional incentive to save regularly and maintain savings in the credit union.

What are the Benefits?

The nominee will receive a financial sum in the event of your death. The amount you receive depends on your age and how much you have saved in Dungannon Credit Union Ltd over the years. Life Savings Insurance is provided by Dungannon Credit Union Ltd, there is no direct cost to you.

Am I eligible?

You are entitled to Life Savings Insurance cover when you save with your credit union if you:

· Join the credit union before the age of 70 years and
· Are actively at work and if not working are in good health

Have you completed a Nomination Form?

On joining the credit union the member makes a written statement nominating a person or group of people to become entitled to any property in the credit union, e.g. savings, or insurance, at the time of his or her death. The member can change the person nominated in writing at any time. The nominated person will be contacted by the credit union on the death of a member in accordance with the rules.