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Life Savings Insurance

Trinity Credit Union provides life savings insurance FREE of charge to eligible members as an incentive to save regularly and to maintain savings with the credit union.

Eligibility

Members are eligible for Life Savings cover if:

  • They join the credit union before the age of 70 years
  • They are actively at work or in good health when they save with the credit union

Benefits

The amount of insurance benefit paid under the scheme is proportional to the amount of savings and the age of an eligible member. The maximum savings covered under the scheme is €7,700 The following table indicates the cover provided to members:

Age

Insurance Cover

Under 55 years of age

€1 for every €1 saved

Aged 55 and under 60

€0.75 for every €1 saved

Aged 60 and under 65

€0.50 for every €1 saved

Aged 65 and under 70

€0.25 for every €1 saved

To maximise the benefits payable under the scheme the savings must be maintained in the credit union.

Withdrawal of savings may affect the benefits payable.