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Death Benefit Insurance

Death Benefit Insurance

No one likes to think about death, be it your own or that of a loved one, but the simple fact is a bereavement can result in very significant expenses and financial worries for loved ones, at a difficult time. Your credit union cares about its members and may provide a service called Death Benefit Insurance (DBI) to help pay for these expenses.

DBI is a unique service offered by some credit unions to help pay for end of life expenses. It pays a fixed lump sum in the event of death and where death is as a result of an accident, the lump sum can be doubled. There are some terms and conditions to meet for inclusion and you should ask your credit union about these and the amount of DBI lump sum currently payable. You should also check with your credit union how the premium is paid.


Coverage & Eligibility

To check if you are included you must ask your credit union. Most members can be included if:

  • They have joined the credit union before age 70 in good health or while actively and regularly carrying out their normal occupation or duties and,

  • They continue to be a member of the credit union and maintain the minimum amount of savings in their account as required by the credit union for inclusion in DBI.

Once you are included for DBI you will continue to be insured as long as you remain a member of the credit union and a premium is paid each year. This will be the case even if your health worsens and as long as your credit union keeps the service in place. Note the lump sum payable and amount of savings required in your account can change from year to year, so please check with your credit union.


ECCU Assurance Designated Activity Company is regulated by the Central Bank of Ireland. For business in Northern Ireland ECCU Assurance is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (and the Prudential Regulation Authority) under firm reference number 203233. ECCU Assurance Designated Activity Company, a private company limited by shares and registered at the Companies Registration Office in the Republic of Ireland with registered number 73410. Registered Office 33-41 Lower Mount St., Dublin D02 Y489. ECCU Assurance, 16 Townsend St., Banbridge, Co. Down BT32 3LF (a branch of ECCU Assurance DAC) is a UK establishment (with registration number FC039503 and BR024609) registered in Northern Ireland. Directors: G. Jordan, A. Kennedy, J. Lyons, C McDonnell, H. McManus, K. Murphy, E Sharkey.