Tullamore Credit Union Ltd.

Loan Protection Insurance is the insurance cover Tullamore Credit Union provides on the lives of eligible members with credit union loans. Provided you are in good health and engaged in your normal life occupation, your loan is covered by insurance. This loan protection insurance is paid for by Tullamore Credit Union and there is no extra cost to you the member. Any credit union member is eligible for Loan protection insurance provided that the borrower has not reached their 80th birthday, the borrower is actively at work able to carry out their normal occupational duties. If not working the borrower is in good health* (*Terms and conditions apply, for more information on Loan Life Insurance terms and conditions or to download our brochure please click here).

Should a member with an outstanding loan balance die, without a pre-existing condition at the time of the loan, or after 6 months of declaring a pre existing condition at the time of the loan, the balance is repaid in full, subject to certain terms and conditions. You should ensure you discuss these issues fully at the loan application stage.

If a member dies within 6 months of receiving a loan, and the cause of death was a pre-existing condition/illness, no insurance will be paid on the loan balance. A pre-existing illness is one you were aware of, diagnosed with or were being treated for 6 months prior to the loan date.