Insurance
Insurance
Macnean Credit Union also offers all eligible members insurance services. All of this insurance cover is paid directly by the credit union and at no additional expense to the member. Read more about the types of insurance available to our members below.
Eligible members’ savings are covered by Life Savings Insurance at no direct cost to you. Life Savings
insurance is the life insurance cover your credit union takes out for all eligible members as an additional
incentive to save regularly and maintain savings with the credit union.
The insurance amount is paid, in the event of your death, in addition to the amount of savings held in the credit union and will depend on your age and how much you have saved with your credit union over the years. Withdrawals may affect the amount of insurance payable.
All eligible members of the Credit Union can apply for insurance covered under our Death Benefit Insurance Policy. This means in the event of your death, a lump sum of £2,000 will be paid to your family to help with the cost of funeral expenses, thereby easing the financial burden of bereavement. The annual premium for the insurance is £15 per year.
Nobody enjoys talking or even thinking about their own mortality. However the simple fact is funerals are now extremely expensive and very few people realise the impact funeral bills will have on their lives.
