Life Savings Insurance is an additional incentive for you to save regularly and maintain saving with Westport 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.
There is no cost to you the member, all fees will be paid by Westport Credit Union.
To make a claim please provide Westport Credit union with a copy of the Death Certificate & 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 insurance services; Life Savings Insurance, Loan Protection Insurance.
For further information please contact Westport Credit Union on 098 25614.
To be eligible you must be a Westport 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.
The amount insured will depend on your age at date of death and how much you saved with Westport Credit Union over the years.
As a guideline
Every €1 you save up to €3,000 with Westport 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 59th Birthday or lowest balance thereafter – 75c per €1 saved
Shared lodged from your 60th to your 64th Birthday or lowest balance thereafter – 50c per €1 saved
Shared lodged from your 65th to your 69th Birthday or lowest balance thereafter – 25c per €1 saved
Shares lodged from your 70th Birthday onwards – NIL
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.
The Mission of the Credit Union is to promote the financial well being of its members.
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