Life savings insurance is the life assurance cover Wicklow and District Credit Union Ltd provides for its eligible members (free of charge). The amount of insurance benefit to which a member is entitled is in proportion to the amount of savings the member has and benefits are payable only on the death of a member (some terms and conditions apply).
Savings Cover Limit
All Wicklow and District Credit Union’s Ltd. member shares are insured up to a maximum of €12,700.
Table of Benefits
| Age Limits | % of savings covered | |
| Up to age 55 | 100% insured on balance or lowest balance thereafter | i.e. you will receive an extra 100% of your savings that are in your account up to a maximum of €12,700 |
| Age 55-60 | 75% insured on balance or lowest balance thereafter | i.e. you will receive an extra 75% of your savings that are in your account up to a maximum of €12,700 |
| Age 60-65 | 50% insured on balance or lowest balance thereafter | i.e. you will receive an extra 50% of your savings that are in your account up to a maximum of €12,700 |
| Age 65-70 | 25% insured on balance or lowest balance thereafter | i.e. you will receive an extra 25% of your savings that are in your account up to a maximum of €12,700 |
Effect of Withdrawals
- Withdrawals have a negative impact on Life Saving Benefit as the claim is based on lowest share amount after the age of 55.
- Amounts lodged after age 70 are not insured however withdrawals can effect benefits due.
