Taking out a loan? Protect it!
Whether you’re borrowing money for a holiday, a new car or home improvements, obtaining a loan can involve a long-term financial commitment. How will you manage to keep up your loan repayments if you have an accident, illness or find yourself unemployed?
By covering the loan with Payment Protection Insurance, you can be free from the worry of repaying it if you were to suffer an illness, accident or become unemployed.
Why choose Payment Protection Insurance?
Who is eligible?
You are eligible for cover as long as at the commencement date:
What is the Bread Winner Clause?
If the member named on the agreement is not working at the start date but their spouse/partner fulfils the eligibility criteria, then the spouse/partner shall be nominated as the policyholder and will be eligible for benefits under the policy in the event of a claim.
As with all insurance contracts, there are situations where the insurance company is unable to make payments. Here is a brief listing of some exclusions:
* For a complete list of eligibility and exclusions, refer to the policy booklet.
This policy is arranged by the Credit Union in it’s capacity as an agent of CUNA Mutual Group Services (Ireland) Limited. The policy is underwritten by Financial Insurance Company Limited, trading as Genworth Financial.