Life savings insurance is life insurance coverage purchased by your credit union, through CUNA Mutual Insurance Company, for its members. The amount of coverage you receive is normally double your savings, but not to exceed insurance on the first $2,000.00 on deposit. There are no disability payments under the life savings insurance.
COST
You pay no premium for this insurance. The credit union pays the premium out of earnings.
AGE LIMIT FOR INSURANCE COVERAGE
All insurable saving balances, up to a maximum of $2,000.00 per member, are covered as follows: