In Teachers’ Credit Union, the outstanding loan balances of eligible members are insured at no direct cost to the member.
Should a member with an outstanding loan balance die, the balance is repaid in full, subject to terms and conditions. You should enquire when making your loan application to see if you are eligible.
If you are an eligible member, this means that you can borrow from your credit union in the full confidence that your dependents will not be obliged to repay the outstanding loan balance in the event of your death.
The insurance benefit payable is the amount of the member’s outstanding loan balance
Cover ceases on the member’s 85th birthday.
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Teachers' Credit Union Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our FRN is 574516
