Life savings insurance

Members of Mosshill Credit Union are covered by our life savings and loan protection insurance.

Example of the benefit of saving :

Sophia  joined Mosshill Credit Union aged 35 and saved on a regular basis, by her 65th birthday she had £5,000 in shares. Just by leaving this amount in the Credit Union her nominee / next of kin would benefit from an insurance payout in the event of her death. The payout would match pound for pound the balance of Sophia shares on her 65th birthday, meaning an insurance payout of £5,000 on top of the £5,000 in shares.

Any amount Sophia pays into the Credit Union after his 65th birthday will receive a payout of 25%.

Here is another example :

Sophie Brown phoned the office to ask about a £500 withdrawal at age 67. She has over £1000 in shares so can withdraw £500. However we advised Sophie that the withdrawal will reduce her pound for pound insurance. It might be more beneficial to take a loan which would keep her pound for pound insurance secure.

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