Member Death Benefit Indemnity (mDBI) is a new low cost opt-in €3,000 Death Benefit Indemnity for Members, with no declaration of health needed.
For just €60 a year Members can opt-in for €3,000 Death Benefit cover. This combined with our new Life Benefit Insurance provides a minimum of €3,700 or €4,300 (depending on which Member Plan you qualify for) to your family after your death.
mDBI is available to all Core Credit Union Members who had joined the Credit Union prior to their 71st birthday, regardless of their current age, to opt-in for until 31st December 2020. After that date, Members over the age of 71 will not be able to enrol into the mDBI program.
There is no declaration of health needed for this insurance, but there is a 6 month waiting period, this means that if the Member dies from a pre-existing condition/illness in the 6 months following the commencement of cover no benefit will be paid.