Mitchelstown Credit Union Ltd operates a scheme for Repayment Protection Insurance with Assurant Solutions in conjunction with the Irish League of Credit Unions.

 

The following points are intended to assist you in assessing the suitability of Repayment Protection Insurance as an option with your Credit Union loan.

 

• Assurant Solutions is one of the largest providers of this type of insurance internationally. They have been selected to provide cover to Credit Union members because they provide very comprehensive benefits.
• The premium quoted is very competitive.

 

• Accidents occur, illness can strike you down and redundancies can and do happen and can seriously affect your income and therefore your ability to afford your loan repayments.

 

• Your loan repayments are paid for you if you are out of work due to an accident, sickness or involuntary unemployment. Some critical illness benefits apply.

 

• Your major worries when borrowing are removed.

 

• You will not need to dip into your savings to keep up your loan repayments if you are unable to work due to any of the above conditions.

 

• The Breadwinner clause allows the unsalaried member to attach the insurance cover to their earning spouse or partner.

 

• The premium rate is the same for all borrowers regardless of age or occupation.

 

• No medical is required when applying for this protection.

 

Making a claim with Assurant Solutions

In order to ensure that your claim is processed in a timely manner, please remember to include the following information with your claim form.

 

Involuntary Unemployment

 

Involuntary Unemployment Initial claim

 

• A fully completed & signed claim form
• A copy of your severance letter from your former employer

Involuntary Unemployment continuing claim
Each month thereafter, the following is required:

 

• The Social Welfare section of the continuing claim form must be fully completed & signed
• Two pieces of Job search evidence.

Job Search Evidence may be one of the following:

 

• Copy of letter from possible employer indicating that they have received your application
• Copies of job advertisements that you have applied for
• The name, address and telephone number of employers that you have approached
• Details of jobs applied to from an agency
• Copies of emailed job applications directly from the members 'sent' box.

Accident & Sickness & Critical Illness
Initial claim

 

• A fully completed & signed claim form
• If your incapacity is due to backache or a related condition, you will need to provide specialist medical evidence ( report of MRI Scan, X-rays etc) of a diagnosed condition
• If your incapacity is due to psychiatric illness or mental disorders (including depression, bereavement, stress or stress related conditions), you will need to provide a full report by a consultant who specialises in that area confirming diagnosis and treatment.
• If you are claiming for Critical Illness benefit, you will need to provide confirmation of your diagnosis from your doctor or consultant. Please consult the policy Terms and Conditions to insure your particular illness is covered.

Accident & Sickness continuing claim

 

Each month thereafter, the following is required:

 

• The Doctors section of the continuing claim form must be fully completed & signed

 

Reasons your claim may be delayed

 

• Claim form is received without the necessary supporting documentation
• Claim form is not fully completed. Please ensure your Doctor or Social Welfare officer completes all questions
• Claim form is not signed

 

Exclusion Periods:
This is the period from the start date that you cannot make a claim:

 

• Unemployment 90 days Critical Illness 120 days
• Accident & Sickness 30 days

 

Any further queries please call 1890 818 033