Loan Protection Insurance

In Kilrush Credit Union Limited, the outstanding loan balances of eligible members are automatically insured at no direct cost to the member. This means the loan should be repaid in full in the event of the member’s death. Members can take out a credit union loan in confidence that their dependents will not have to pay the loan off on death. Kilrush Credit Union provides this cover on the lives of its borrowing members between their 16th and their 85th birthday. Banks and other financial institutions charge a separate insurance premium on top of loan repayments for this service.

Loan Protection Insurance is payable subject to policy terms and conditions.

  • The insurance benefit payable is the amount of the member’s outstanding loan balance
  • Cover ceases on the member’s 85th birthday

(Terms & conditions apply to all insurances listed)

Life Savings Insurance

Life Savings Insurance is the life insurance cover provided to Kilrush Credit Union Limited members i.e. at no direct cost to you and as an incentive to save regularly. 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 is in proportion to the amount of savings the member has made during the term of membership, and depends on the member’s age at date of lodgement.

Subject to a maximum benefit of €1,000, every €1 saved before the age of 55 provides €1 of insurance. However, once over the age of 55, each €1 saved provides the following benefit:


55 – 60

Every €1 provides

€0.75 in insurance

60 – 65

Every €1 provides

€0.50 in insurance

65 – 70

Every €1 provides

€0.25 in insurance

Amounts saved after a member’s 70th birthday are not insured. However, cover built up before their 70th birthday remains in force provided savings remain in place. Withdrawals may affect the amount of life savings insurance payable.

Please note that only share accounts are covered by the Credit Union’s Life Savings Policy. Balances held in EFT, Deposit accounts or Current Accounts are not eligible for insurance cover.

AXA Insurance

Axa Insurance provides exclusive discounts to Credit Union Members.

Call 0818 336 339 for an Insurance quote. Lines open Mon – Fri from 8 am – 6 pm.

Click here for more details on their promotions. Be sure to mention that you’re a member of Kilrush Credit Union.