What is repayment protection insurance?

Repayment Protection Insurance is a policy which meets your loan repayments for a specified period of time if you are forced out of work by any of the following events:

• If you are a Private Employee, you can claim accident, sickness, redundancy
• If you are State/Self-Employed, you can claim accident, sickness, critical illness

Who is eligible?

You can avail of this protection if:

• You are aged 18 or over and will be less than 70 when the policy ends
• You or your spouse are in full time employment (working 18 hours or more a week).

What are the benefits of repayment protection insurance?

• Your major worries when borrowing are removed.
• Your loan repayments are made for you if you are off work due to accident, sickness, redundancy/critical illness.
• You don’t need to dip into your savings to keep up your repayments when you are unable to work due to any of the above conditions.
• The cost is the same for all borrowers regardless of age or sex.
• No medical is required when applying for this valuable protection.

Members please note:

Due to the economic downturn the RPI insurance premium rate is being investigated by the underwriters. We would like our members to note there will be an increase in the rate. Please check back for more information