Affinity Credit Union Limited offers access to Life Savings and Loan Protection Insurance 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 Insurance
Life Savings Insurance is the life insurance cover provided to Affinity Credit Union members on a FREE-TO-MEMBER basis. Life Savings Insurance is payable on the death of the eligible member, subject to policy terms and conditions.
The amount of insurance benefit to which a member is entitled to is in proportion to the amount of savings and depends on the member’s age at date of death.
For more information, click here.
Loan Protection Insurance
One of the great benefits of a credit union loan is the loan protection insurance. It repays the balance of the loan in the event of the borrowing member’s death. Cover 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.
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