Extended Life Protection

Extended Life Protection is available for the 70+ Loan. If you pass away before the age of 80 your outstanding loan balance of up to £5,000 could be cleared, subject to terms and conditions.

Please note: All benefits are paid at the discretion of our Board of Directors. Life Protection is not an insurance policy and is not guaranteed.

Terms and Conditions 

• Extended Life Protection covers No1 CopperPot Credit Union members from the age of 70 to their 80th birthday.
• Extended Life Protection is only available on the 70+ loan and not available on any savings accounts.
• All benefits are paid at the discretion of our Board of Directors.
• Life Protection is not an insurance policy and is not guaranteed.
• Life Protection is not available on mortgages.

Exclusions to Life Protection

• War is an exclusion to Life Protection. Life Protection benefits may not be payable if a member is injured, becomes ill, or dies resulting from an insurrection of any war, declared or undeclared, or service in the armed forces of any country.
• A person taking their own life is an exclusion to Life Protection. Life Protection will not clear any loan or double any savings contribution of anything received six months prior to a member taking their own life. 
• In the case of a pre-existing medical condition any savings contribution which has been received in the last six months before their death, will not be eligible for Life Protection. Life Protection will not be paid on the balance of your loan(s) which has been approved within six months of death if it occurs from a pre-existing illness or injury, for which medical advice, consultation, or treatment was received within the six months prior to death.