Affinity Credit Union Limited offers access to Life Savings and Loan Protection Benefits on a FREE-TO-MEMBER basis, subject to terms and conditions. Affinity Credit Union Limited also offers a number of optional, member-pay insurance services.
Life Savings Benefit (LSB)
Life Savings Benefit is provided to eligible Affinity Credit Union members on a FREE-TO-MEMBER basis. Life Savings Benefit is payable on the death of the eligible member, subject to policy terms and conditions.
The amount of benefit to which a member may benefit from is subject to the savings balance and member’s age at date of death.
For more information, click here.
Loan Protection Insurance (LPI)
One of the great advantages of a credit union loan is the loan protection benefit. It repays the balance of the loan in the event of the borrowing member’s death. It is subject to policy terms and conditions.
Eligible members can take out a loan in the confidence that their next of kin will not have to pay off the balance of the loan if the borrower dies. Banks and other lending agencies can charge a separate and expensive premium on top of the loan repayments for this service.
For more information, click here.
Loan Repayment Protection (LRP)
Loan Repayment Protection is an insurance taken out by a member at the time of their loan application which provides cover for the members' regular loan repayments in the event that the member cannot work due to accident, sickness or involuntary unemployment.
Eligibility and suitability requirements apply. Policy is subject to terms and conditions.
For more information, click here.
