At Ballaghaderreen & District Credit Union Ltd, the outstanding loan balance of eligible members are automatically insured at no direct cost to the member. This means the loan debt will be cleared in the event of the members death.

(Subject to terms and conditions)

Age Limits

Under the basic policy, insurance cover ceases on the members 70th birthday, however, Ballaghaderreen & District Credit Union Ltd has the “Over 70 Rider” which extends the cover until the members 85th birthday.

Insured Member

Cover will not apply until the loan is drawn down by the member and an actual indebtedness created, at which time for each loan, the conditions for eligibility shall apply. To be insured members must meet certain Insurance company requirements.

Disability Cover

Disability cover under the loan protection policy is defined as a condition of health which renders the member totally and permanently unable to engage in any occupation. Disability must be medically determined. The insurer reserves the right to request the member to attend an independent medical examination.



Disability cover ceases at age 60. Once a disability claim has been paid, the insurer’s liability for any future claims on behalf of that member in that or any other Credit Union is terminated, unless the member completes a declaration of health form on each occasion a loan is applied for and submits it for approval. If approved, the member will have cover for all illness and injuries except that for which disability benefit was paid.

Loans to clubs or societies are not insurable


(All of the above is subject to terms and conditions)

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