Insurance
Loan Protection Insurance
Loan Protection Insurance is an insurance cover Muintir Clanna Caoilte Credit Union provides on the lives of its borrowing members. Should an insured borrower die, the insurance cover provided ensures that the loan is repaid in full, subject to certain criteria.
You will be informed at the time of the loan application if your loan exceeds the amount covered by the credit unions policy and the alternatives available.
Repayment Protection Insurance
Muintir Clanna Caoilte Credit Union Ltd offers Repayment Protection Insurance (RPI) to all its eligible borrowing members, for example, members who work more than 18 hours per week and who make prsi contributions. For a reasonable cost, this insurance will cover the members loan in the event of any of the following circumstances occuring:
- Accident
- Sickness
- Unemployment
- Critical Illness (for self-employed)
The cost of this insurance will be included in the loan amount issued to the member and repaid over the period of the loan. Should the loan be repaid early, the member may be entitled to a part refund of the premium paid.
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