Death Benefit Insurance

     Death Benefit Insurance

Omagh Credit Union also provides Death Benefit Insurance for all eligible members.  The cost of this insurance is just £19.49 this year for adults and £1.48 per year for minors.  In the event of the death of a member, a payment of an additional £2000.00 is made to the family of the deceased member to help to defray funeral expenses on receipt of the funeral bill.

Any member who does not want to be a part of the scheme are invited to write a letter to the Board of Directors opting out of the scheme indefinitely.

A credit union member is eligible once:
  • They are a natural person that has joined the credit union before age of 70 and remain a member till death.
  • They are working or in good health  when joining Omagh Credit Union Ltd.
  • The premium is deducted annually from the Dividend and/or Interest Rebate if enough earned or can be paid over the counter. This is NOT automatic cover, please check with staff each and every year to make sure you are covered, if you wish to be part of the scheme.
  • The onus is on the member not Omagh Credit Union to make sure they are covered each year.