Death Benefit Insurance

This benefit is designed to relieve the burden of bereavement costs. At present £12.68 is deducted from a member’s account once a year providing the member:

  • Joined before 70 years of age
  • Has a minimum balance of £75.00. This balance is reviewed by the Board of Directors on an annual basis.

On the death of the member, £2,000.00 is allocated to the person nominated by the member.  It is important that each member participating in this scheme complete a nomination form indicating who is eligible to receive this insurance. The nomination covers the first £10,000 of the members Death Benefit Insurance and Life Savings Insurance. The remainder is subject to Letters of Administration or Grant of Probate.