Our Death Benefit Insurance (DBI) of €2,600 is provided specifically to assist with funeral expenses and give members and their family some relief from financial worry at the time of bereavement.

You are eligible for this cover if you became a member of Wexford Credit Union before age 70 and were in good health or actively and regularly carrying out your normal occupation or duties. You must also maintain the minimum balance of €5 savings in your account. If your savings go below €5 after your 70th Birthday you will no longer be entitled to the benefit.

This insurance is paid out directly to either the Funeral Directors or to the person who has paid the funeral bill and who has been invoiced accordingly. Terms & Conditions apply to all our insurance products.

You are eligible for this cover if you opened your account before your 70th birthday and were in good health and fit to follow your normal occupation or duties. You must also maintain a minimum balance of €5 in your shares at all times.

Once you are included for DBI you will continue to be insured as long as you remain a member of the Wexford Credit Union and a premium is paid each year. This will be the case even if your health worsens and as long as Wexford Credit Union keeps the service in place. The lump sum payable and amount of savings required in your account can change from year to year, so please check with us if you’re unsure.

No matter what life brings it’s comforting knowing you’re covered with Wexford Credit Union Ltd.

Loan Protection Insurance is the cover Wexford Credit Union takes out on the lives of our members who have loans with us. It is payable on the death of a member and to qualify for this insurance, you must be aged between 16 and 85 years of age and be actively at work or in good health when you take out your loan.

If you are an eligible member, this means that you can borrow from Wexford Credit Union in the full confidence that your dependents will not be obliged to repay the outstanding loan balance in the event of your death. You should enquire when making a loan application to see if you are eligible for this great cover. For larger loan amounts a medical questionnaire may be required.

And the good news is Wexford Credit Union pays the cost of this insurance for you!

When borrowing from Wexford Credit Union, a member is eligible for cover if:

• they have not reached their 85th birthday
• the borrower can confirm they can actively and regularly perform all the usual duties of their occupation and further terms and conditions can apply

For larger loan amounts a medical questionnaire may be required.

Life Savings insurance is another great benefit that Wexford Credit Union provides for its members (at no extra cost) as an additional incentive to save regularly. You’re eligible for this insurance cover once you open your account before your 70th birthday and you are actively at work or in good health when you join as a member.

The insurance benefit, payable on death, is calculated on the amount of savings you have built up over the years and is also dependent on your age when your savings were lodged. Only savings lodged into your account before your 70th birthday can earn insurance. However, once earned, insurance cover accumulated remains in place, regardless of your age, provided of course that your savings are not withdrawn. This is one of the reasons why it makes sense to take out a loan instead of withdrawing savings.

Subject to a maximum benefit set by Wexford Credit Union, every €1 you save before the age of 55 provides €1 of insurance. So, if you are 54 years of age with €2,000 saved in your Wexford Credit Union account, an insurance benefit of €2,000 will be paid out on your death. This is subject to the eligibility terms and conditions and the Wexford Credit Union’s life savings cover limit.

Once a member is over 55 years of age, each €1 you saved with Wexford Credit Union provides the following insurance benefit:

• €1 saved between 55 - 59 years of age provides 75c
• €1 saved between 60 - 64 years of age provides 50c
• €1 saved between 65 - 69 years of age provides 25c
• No insurance is payable on amounts saved after your 70th birthday.

Once earned, your insurance remains in force as long as you leave your savings in your account. Withdrawals may affect the amount payable.