Life Savings Insurance is the life insurance cover the Credit Union provides for its eligible members as an additional incentive for them to save regularly. The amount of insurance benefit to which a member is entitled is in proportion to the mount of savings the member has, and depends on the members age at date of lodgement.

Subject to a maximum benefit set by the Credit Union, every €1 you save before the age of 55 provides €1 of insurance. Once you are over the age of 55 each €1 you save with your credit union provides the following benefit:

• €1 saved between ages 55-59 provides €0.75 insurance
• €1 saved between ages 60-64 provides €0.50 insurance
• €1 saved between ages 65-69 provides €0.25 insurance

No insurance is payable on amounts saved after your 70th Birthday.

Once earned, your insurance remains in force as long as you leave your savings in your credit union. Withdrawals may affect the amount payable.

A member is eligible for the insurance cover carried by the Credit Union if when they begin saving they are:

• Under the age of 70
• Actively at work, or if not working, in good health

What are the benefits?
Depending on your age and how much you have saved with your credit union over the years, Life Savings insurance could provide your dependants with up to €12,700 on you death.

This Insurance product is one of the great benefits that is offered by your Credit Union. Last year an amount totalling €458,250 was paid out to relatives of deceased members to help towards funeral expenses. The name of the Insurance company is ECCU Assurance Company Ltd.

• The renewal date January each year.
• Ballyfermot Inchicore Credit Union has opted for the maximum pay-out cover of €3,250.The current premium for 2023 is €55.54 per adult member.
• The Credit Union subsidises the payment of the premium by paying €25.54 and the balance of €30 paid by the participating member.
• All eligible adult members (see below) can join the scheme by completing the application form below and by giving their consent for us to withdraw the premium contribution payment from your shares.
• Once you have done this you will be included in the scheme provided you comply with the conditions and the Credit Union continues to offer this policy.

As an additional benefit Ballyfermot Inchicore Credit Union includes all junior members under the age of 16 years in the scheme Free of Charge - no application required!

Conditions for entry in the Scheme

• You joined the Credit Union before the age of 70, were in good health and continue active membership holding a share balance of at least €80 in your account.
  
  
• You have signed and returned the “ Agreement to Deduction from Shares and Entry to the Scheme” form
  
  
• The applicable premium has been paid by you.

Please note this Death Benefit is entirely optional and if we do not receive your signed acceptance you will not be covered.

DBI Deduction Agreement 2024

Looking for Car or Home Insurance?

AXA have deals on car and home insurance for credit union members. With our 24/7 Emergency Home Assistance and claims helpline, we’re always here to help.

If you are looking for a Car or Home quote, complete AXA’s call back request form now and AXA will contact you for a quote.

Click the link for details:https://www.axa.ie/promotions/cu/ or please call AXA on 0818 336 339 - remember to mention your credit union scheme code 667.

Drop into your local branch,
AXA Insurance dac,
Longmile Road,
Dublin 12
Email axa.longmileroad@axa.ie

or

AXA Insurance dac,
Wolfe Tone Street,
Dublin 1
Email axa.dublincity@axa.ie

Remember to mention Ballyfermot Inchicore Credit Union scheme code 667.

These discounts may be amended or withdrawn by AXA at any time. Terms and conditions apply. Credit Union membership discount cannot be used with other offers. For your own security and to help us improve our service, we may record or monitor phone calls. AXA Insurance Limited is regulated by the Central Bank of Ireland. Your Credit Union is regulated by the Central Bank of Ireland and is acting solely as an introducer to AXA Insurance Limited. AI-700(a) 03/15 (4988 AD). being updated

Cover CU Motor Insurance

• 12 months cover for the price of 11
• Instant Online Quotes
• Comprehensive and Third Party, Fire & Theft Cover
• No-Claims Discount of up to 55%
• 24 Hour Claims Service

CoverU - great deals on car, travel and home insurance visit https://www.coveru.ie

Terms and conditions apply. Please refer to policy document for full details of these products. This scheme is underwritten by AIG Europe Limited. AIG Europe Limited is authorised by the Prudential Regulation Authority of the United Kingdom, and is regulated by the Central Bank of Ireland for conduct of business rules. When acting as an insurance intermediary credit unions and the Irish League of Credit Unions are regulated by the Central Bank of Ireland. Credit Unions in the Republic of Ireland are regulated by the Central Bank of Ireland.

CoverCU Home Insurance

• Great Value Home Insurances
• No Administration Fees
• 2 Months "Free Cover" for new customers (12 months for the price of 10)
• 30% No Claims Discount if 3 years claims free or 20% discount if Car is insured with AIG
• Choice of 3 levels of cover

CoverU - great deals on car, travel and home insurance visit https://www.coveru.ie

Terms and conditions apply. Please refer to policy document for full details of these products. This scheme is underwritten by AIG Europe Limited. AIG Europe Limited is authorised by the Prudential Regulation Authority of the United Kingdom, and is regulated by the Central Bank of Ireland for conduct of business rules. When acting as an insurance intermediary credit unions and the Irish League of Credit Unions are regulated by the Central Bank of Ireland. Credit Unions in the Republic of Ireland are regulated by the Central Bank of Ireland.

• Single Gap & Multi Trip Options
• Competitive Premiums
• Online Purchase in Minutes
• 25% Discount for Private Medical Insurance Holders

CoverU - great deals on car, travel and home insurance visit https://www.coveru.ie

Terms and conditions apply. Please refer to policy document for full details of these products. This scheme is underwritten by AIG Europe Limited. AIG Europe Limited is authorised by the Prudential Regulation Authority of the United Kingdom, and is regulated by the Central Bank of Ireland for conduct of business rules. When acting as an insurance intermediary credit unions and the Irish League of Credit Unions are regulated by the Central Bank of Ireland. Credit Unions in the Republic of Ireland are regulated by the Central Bank of Ireland.