For death All members’ loans (up to age 84) are automatically insured up to €8,000. Loan balances greater than these limits are subject to completing a Member Declaration on the back of the loan application form and/or a Declaration of Health Form. The underwriters have the right to decline or restrict cover for members with serious medical conditions.

ECCU are the underwriters of Loan Protection Insurance. Where the cover is not automatically granted, ECCU reserves the right to request further medical information or request the member to attend for a medical examination. It is important that members accurately complete any requested forms or declarations as any inaccuracies or misstatement of facts will result in a claim being declined.

In the event of Death
To make a claim please provide Gurranabraher Credit union with a copy of the Death Certificate. If a Nomination is in place, monies will be paid out as requested in the Nomination.  If a Nomination is not available please provide 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 and Loan Protection Insurance.

In the event of Disability
Claims Forms are available in Gurranabraher Credit Union. Once filled in please return to Gurranabraher Credit Union and we will submit your claim on your behalf.  It is important that you keep in contact with your Medical Practitioner to ensure that your claim form is filled in full and in a timely manner.

For further information please contact Gurranabraher Credit Union on 021 4303394

Members over 16 years are encouraged to nominate a person(s) to receive their credit union property in the event of their death. The maximum amount you can nominate is €23,000. This means that on your death, your savings will not form part of your estate and can be distributed without delay to the person(s) you have named on your Nomination Form.

As a Nomination overrides a Will, we encourage members to complete a Nomination and keep it up to date.

You can update your Nomination any time at Gurranabraher Credit Union.

Key Points:

• Members under 16 years are not eligible to complete a Nomination Form.
• A member cannot nominate an Officer of Gurranabraher Credit Union unless that person is a member of the Officer’s family.
• The Nomination is valid up to a limit of €23,000. Any amount above €23,000 becomes part of the member’s estate.
• The member can at any time change their Nomination by completing a new Nomination Form. Any previous Nomination will automatically be cancelled.
• A Nomination overrides a Will so it’s important to have one and keep it up to date.
• The marriage of a member of Gurranabraher Credit Union cancels any Nomination made by him/her before his/her marriage. This applies even if the same person is to be nominated.
• A Nomination shall be cancelled by the death of the Nominee before the death of the Nominator.
• The form of Nomination must be made at the registered office of Gurranabraher Credit Union during the Nominator’s lifetime.

Once Gurranabraher Credit Union receives satisfactory proof of death of the member, the account and monies will be processed.

To fill in a Nomination Form call in to our offices in Gurranabraher, or Knocknaheeny with Photographic ID.

The amount insured will depend on your age at date of death and how much you saved with Gurranabraher Credit Union over the years.

The maximum benefit is €5,000. Shares in excess of €5,000 and shares lodged after your 70th birthday do not earn any Life Savings Insurance.
As a guideline
Every €1 you save up to €5,00 with Gurranabraher 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 60th Birthday or lowest balance thereafter 75c per €1 saved
• Shared lodged from your 60th to your 65th Birthday or lowest balance thereafter 50c per €1 saved
• Shared lodged from your 65th to your 70th 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.

To be eligible you must be a Gurranabraher 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.

To make a claim please provide Gurranabraher Credit union with a copy of the Death Certificate. If a Nomination is in place, monies will be paid out as requested in the Nomination.
If a Nomination is not available please provide 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 and Loan Protection Insurance .

For further information please contact Gurranabraher Credit Union on 021 4303394 or request a call back.

Great Deals available to Gurranabraher Credit Union members with coveru.ie for  Travel Insurance visit coveru.ie or Phone them on 1890 410 410.  To obtain your discount tell them you are a Gurranabraher Credit Union member.

Protecting your Assets

It’s usually only in times of adversity or hardship that we realise the importance of protecting those we love – and what we own.

CU Insured can help advise you on the best way you can “keep the show on the road” if something untoward were to happen to you such as serious illness or premature death.There are lots of options and we can provide you with the products that best suit your needs and your budget.

Wealth management

 

Terms and conditions apply to all these Insurance products and any discounts applied. Your Credit Union is not involved in the endorsement, sale, advice, premium collection or claims settlement for any of these products. CUInsured is regulated by the Central Bank of Ireland