Life Savings Insurance
All member savings lodged before the age of 70, whilst the member is in good health, up to a maximum insurable benefit of £15,000 are eligible for this free insurance benefit.
Withdrawals after the age of 55 will affect the amount payable as only the minimum balance is insured.
The amount to which the eligible member is entitled will depend on the value of the savings and the date of lodgement of those savings.
Loan Protection Insurance
This insurance makes sure that if a member dies, their next of kin are not left with the burden of paying off their loan with the credit union. Most loans are eligible up to the age of 85.
This cover is provided by the credit union at no cost to the member. The member's full outstanding loan balance will be fully repaid by the insurance.
Death Benefit Insurance
At KRD Credit Union, Death Benefit Insurance is provided to all of our eligible members FREE of charge. To be eligible, you need to have joined the credit union in good health, before the age of 70 and kept your savings balance above £1.
If this has all been done, the insurance benefit will pay £2500 to your next of kin in the event of your death. We understand that Death Benefit Insurance won't ease bereavement but will help to ease the financial burden that your death may place on your family.
Car & Home Insurance
15% OFF the cost of your car insurance and 10% OFF your home insurance for KRD Members.
Terms and Conditions
- These discounts may be amended or withdrawn by AXA at any time.
- Your discount cannot be used with other offers.
- Valid for new customers and existing AXA customers when renewing their policy.
- Subject to normal underwriting criteria.
