Free Life Cover

At this credit union, we do things differently.

As a member, you are automatically covered on saving and loans up to the value of £25,000, subject to certain terms and conditions related to age and pre-existing medical conditions.

What is Free Life Cover?

Free Life Cover on Savings

To support your family when they need it most, we provide free life cover on savings up to £25,000 (covered up to the age of 65). This means the first £25,000 of your savings can be doubled, should the worst happen (subject to terms and conditions*).

Free Life Cover on Loans

To give you that extra peace of mind, we provide free life cover on loans up to £25,000 (covered up to the age of 70). This means, any loan up to the value of £25,000 can be cleared, should the worst happen (subject to terms and conditions*).

Any Questions?

The members Next of Kin, should contact us directly on 0121 700 1222 or to notify us of the Death as soon as possible.

The initial information we would require would include the date of Death of your loved one, Next of Kin’s personal details including full name, home address and contact number.

After the initial contact, the Next of Kin will then shortly receive a letter to their home address, outlining the process regarding how the account will be dealt with and what documentation we require.

Understandably, all claims are different and time periods can also differ. On average a claim usually takes around 8 – 10 working days to receive the funds, once all required documentation has been received.

All members have the option to complete a Beneficiary Form upon joining. This would give the option for the first £5,000 of a member’s account to be paid to a nominated person, which can be processed on receipt of a Death Certificate. You can change your nominated beneficiary at anytime contacting us directly on 0121 700 1222 or

*The free life cover benefit is subject to the terms and conditions of Serve and Protect Loan Protection and Life Savings policies, arranged by CMGL and underwritten by Covea Life Ltd. Note that this protection is a benefit of membership provided at no extra cost to the member. The Credit Union is the policyholder for Loan Protection and Life Savings.

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