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Death Benefits

HELP PROTECT YOUR FAMILY WITH FREE DEATH BENEFITS

Preparing for life’s twists and turns is a reality we all have to face. Our Credit Union can give you additional peace of mind knowing that money will be available to protect your loved ones in a number of ways for no additional cost to you. Name your loved ones as your account beneficiaries and keep the information updated so that your account is settled as you would wish in the event of a tragedy or death. You can add more than one beneficiary to your account or change the beneficiary names however and whenever you need to.

DEATH BENEFITS ON SAVINGS

Death benefits are provided based on the amount of savings in your account. Benefits stop on the date all the savings are withdrawn from your account. The amount is based on your age and the account balance by a specific date, up to a maximum of US $20,000 which will be paid to your beneficiaries when claimed after your death or accidental dismemberment.


DEATH BENEFITS ON LOANS

Death benefits are provided on your loans until your reach age 70 years old. You qualify for life benefits on a loan if you were employed on the date you received your loan, and if you weren’t employed, you will qualify for life benefits on the date you become employed again. The maximum coverage is US $40,000, which will be paid to your beneficiaries when claimed after your death or accidental dismemberment.

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