Loan Protection Insurance

Loan Protection Insurance is payable on the death of the eligible member, subject to policy terms and conditions.

St. Canice’s Credit Union provides this cover at no extra cost on the lives of its borrowing members between their 16th and their 85th birthday. The insurance benefit usually payable is the amount of the member’s outstanding loan balance. In the case of joint accounts, the first named on the account only is covered by this insurance.

(Terms & conditions apply to all insurances listed)

Savings Protection Insurance

Life Savings Insurance is payable on death of the eligible member, subject to policy terms and conditions.

The insurance benefit payable is in proportion to the amount of savings that a member has accumulated during the term of their membership. The benefit is also dependent on the member’s age at the date on which lodgements are made to the account and their state of health.

Subject to a maximum benefit of €5,000 (effective January 2020), every €1 saved before the age of 55 provides €1 of insurance. However, once over the age of 55, each €1 saved provides the following benefit:

55 – 60Every €1 provides€0.75 in insurance
60 – 65Every €1 provides€0.50 in insurance
65 – 70Every €1 provides€0.25 in insurance

Amounts saved after a member’s 70th birthday are not insured. However, cover built up before their 70th birthday remains in force provided savings remain in place. Withdrawals may affect the amount of life savings insurance payable. Again, only the first named member on a joint account is eligible for this insurance.

Please note that only shares accounts are covered by the Credit Union’s Life Savings Policy. Balances held in EFT/Current Accounts are not eligible for insurance cover.

Death Benefit Insurance


However we plan, we don’t always get time to prepare for the unexpected. Life is fragile.
St. Canice’s Credit Union Member Death Benefit Insurance Scheme can help your loved ones with the financial expenses in the event of your death.
> Our new Member Death Benefit Insurance provides peace of mind for you and your family in one easy quick step.
> To qualify for Member Death Benefit Insurance, you must be a member.
> You are guaranteed acceptance into the scheme, once you are a member under the age of 71 years of age. A medical assessment is not required.*

How It Works

> Pay €84 per year per member. (This payment is deducted automatically by St. Canice’s Credit Union directly from your account each year).
> €2,500 will be paid towards your funeral expenses in the event of your death.
> Available to all members under 71 years of age.
> Complete a form in your local branch.

You can read & print out the Key Facts about the Member Death Benefit Insurance here

Important Information

*A pre-existing medical condition limitation applies to this Scheme. This means that cover is not provided if a member were to die from a pre-existing medical condition during the first six months of their membership of the programme. Terms and conditions apply.
St. Canice’s Kilkenny Credit Union Ltd. Member Death Benefit Insurance is a group policy of the credit union and open to participation by members, subject to eligibility criteria outlined in the Key Facts & Summary provided by on our website, in any branch or can be requested by post at any time.
The Scheme is arranged, on behalf of St. Canice’s Kilkenny Credit Union Ltd. by CUNA Mutual Group Services (Ireland) Ltd. which is regulated by the Central Bank of Ireland. The policy is underwritten by Utmost Pan Europe dac which is authorised by the Central Bank of  Ireland.