Tel: 065 905 1242 Email:

Loan Protection Insurance

In Kilrush Credit Union Limited, the outstanding loan balances of eligible members are automatically insured at no direct cost to the member. This means the loan will be repaid in full in the event of the member’s death. Members can take out a credit union loan in the full confidence that their dependents will not have to pay the loan off on death or total and permanent disability for any occupation.

Kilrush Credit Union provides this cover on the lives of its borrowing members between their 16th and their 85th birthday. Banks and other financial institutions charge a separate insurance premium on top of loan repayments for this service.

Loan Protection Insurance is payable subject to policy terms and conditions.

  • The insurance benefit payable is the amount of the member’s outstanding loan balance
  • Cover ceases on the member’s 85th birthday
  • The cover extends to include total and permanent disability from any occupation and the benefit will be paid based on:
    1. The total and permanent disability must be medically determined.
    2. The total and permanent disability must commence before the 65th birthday


(Terms & conditions apply to all insurances listed)

Life Savings Insurance

Life Savings Insurance is the life insurance cover provided to Kilrush Credit Union Limited members i.e. at no direct cost to you and as an incentive to save regularly. Life Savings Insurance is payable on the death of the eligible member, subject to policy terms and conditions.

The amount of insurance benefit to which a member is entitled is in proportion to the amount of savings the member has made during the term of membership, and depends on the member’s age at date of lodgement.

Subject to a maximum benefit of €3,000, every €1 saved before the age of 55 provides €1 of insurance. However, once over the age of 55, each €1 saved provides the following benefit:

Age €1 Provides
55 – 60 Every €1 provides €0.75 in insurance
60 – 65 Every €1 provides €0.50 in insurance
65 – 70 Every €1 provides €0.25 in insurance

Amounts saved after a member’s 70th birthday are not insured. However, cover built up before their 70th birthday remains in force provided savings remain in place. Withdrawals may affect the amount of life savings insurance payable.

Please note that only share accounts are covered by the Credit Union’s Life Savings Policy. Balances held in EFT/Current Accounts are not eligible for insurance cover.

Repayment Protection Insurance

Repayment Protection Insurance (RPI) is an optional insurance cover, which protects your loan repayments in the event of you becoming unable to work for more than thirty (30) certified days.

Why choose Repayment Protection Insurance?

Accidents occur, illness can strike you down and even in todays prosperous climate, redundancies can and do happen and can seriously affect you income. As a response to these perils, the Credit Union has designed a valuable product especially for you, the member.

If you are a private employee you can claim:

  • Accident
  • Sickness
  • Redundancy

If you are State / Self Employed you can claim:

  • Accident
  • Sickness
  • Critical Illness


Who is eligible?

You can avail of this protection if:

  • You are aged 18 or over and will not be less than 70 when the policy ends.
  • You or your spouse are in full time employment, working 18 hours or more a week


What are the benefits of Repayment Protection Insurance?

  • Your major worries when borrowing are removed
  • Your loan repayments are made for you if you are off work due to accident, sickness, redundancy or critical illness
  • You don’t need to dip into your savings to keep up your repayments when you are unable to work due to any of the above conditions
  • The breadwinner clause is included ~ see below
  • The cost is the same for all borrowers regardless of age or sex
  • No medical is required when applying for this valuable protection


What is the Bread Winner Clause?

A unique feature of the policy allows the unsalaried member attach the insurance cover to their earning spouse. If the members earning spouse is unable to work due to any of the insured events, the members loan repayments will be met by the insurance cover.

As with all insurance contracts, there are situations where the insurance company is unable to make payments. Here is a brief listing of some exclusion.

  • Pre-existing illness (any condition suffered in the past 12 months)
  • Pregnancy related conditions
  • Prior knowledge of pending redundancy
  • Voluntary redundancy
  • Self inflicted injuries
  • Dismissal
  • Alcohol/Drugs related conditions
Kilrush Credit Union
Online Loan Applications
Online Payments
New ATM machine