Welcome Credit Union Members

Life Insurance

Life Insurance

It’s usually only in times of adversity or hardship that we realise the importance of protecting those we love – and what we own.

CU Insured can help advise you on the best way you can “keep the show on the road” if something untoward were to happen to you such as serious illness or premature death.There are lots of options and we can provide you with the products that best suit your needs and your budget. Fill in some of your details for your free no obligation quote, or speak to one of our Qualified Financial Advisors for more information.

Should I take out Life Insurance?

If you have someone who depends on you, life insurance can help fill the financial gap left in the event you are no longer there to support them. It is difficult to imagine a time when you won’t be there to help provide for your family.

However, by being prepared in advance  you’ll have the peace of mind knowing you’re protecting your family’s financial future. That’s why we developed several life assurance options to suit your needs and budget.

How it works?

At CU Insured we will help you assess your need for life insurance cover. This will depend on your age, family circumstances and lifestyle. Typically you will want your mortgage and any loans cleared. Similarly, you may wish to provide a fund for burial and allow your surviving partner to take time off work.

Frequently Asked Questions

How much will it cost?

The cost of life insurance depends on a number of factors including:

  • The amount of cover you need and how long you want cover for.
  • Risk factors increase the cost, including your age, whether you smoke and your health and lifestyle.

Who can be covered with Life Insurance?

Single Cover– Only one person is covered under the policy. If this person dies within the term of the policy – The cover amount will be paid to the policy holders estate or lender

Dual Cover– Both people are covered equally under this policy and is a popular choice as it comes at no extra cost compared to Joint Cover. It pays out on the first death and second death.

Joint Cover– Two people are covered under the one policy. But only pays out on one death. For example “Joint Life, First death” will pay out when the first person dies, and nothing when the second person dies.

How long do I need cover for?

If you require the policy for family protection, then you should have cover until your youngest child is expected to be independent. With children going to university, this can often mean a term of 25 years.

Benefits of Life Insurance

  • In the event of death, a tax free lump sum of money is paid to the insured person’s estate.
  • It can be a way to leave a substantial amount of money to your family on your death that will allow them to rebuild their lives after your untimely death.
  • Financial obligations can be paid off in full with the Life Cover amount insured (mortgages and other loans)

Our Products

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Mortgage Protection

Pays your mortgage in the event of death.

Serious Illness Cover

You receive a lump sum payment that helps you financially if you become seriously ill.

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