Introduced in 1995, the main purpose of this insurance (DBI) is to provide basic life cover to credit union members at an affordable price. The cover is offered as a rider (or endorsement) to the Life Savings insurance policy. Death Benefit Insurance is underwritten by ECCU Assurance Company Limited.
What is Death Benefit Insurance?
Death Benefit Insurance is additional Life Assurance designed to lighten the financial burden of bereavement. During the life of the insured, it gives the family added security and reduces certain worries about the future. DBI charges are deducted from active members' share balance at the end of each year at a cost of £10.
What are the benefits?
This insurance provides an amount of £2000 on death towards the funeral expenses of any member who joined Antrim Credit Union before the age of 70 and who is still a member at the time of death. Payment will normally be made directly to the Funeral Undertaker or to a family member who can provide evidence that they have paid the funeral expenses.
Am I eligible?
In general you must:
have joined the credit union before the age of 70
remain a member of the credit union
be in good health or able to perform your normal occupational duties when or after joining our credit union