Death Benefits

Death Benefit Insurance (DBI)

Introduced in 1995, the main purpose of this insurance is to provide basic life cover to credit union members at an affordable price. The cover is offered as a rider (or endorsement) to the Life Savings insurance policy. Death Benefit Insurance is underwritten on a not-for- profit basis by the credit unions’ own insurance company, ECCU Assurance DAC.

DBI is an additional credit union service designed to lighten the financial burden of bereavement. It provides eligible members with access to a benefit/payment through the credit union’s own insurance policy. During your membership of the credit union, it can give you and your loved ones added peace of mind and reduces certain worries about the future.

Many credit unions offer this cover as part of the insurance provided by the credit union.

What are the benefits?

The actual amount of insurance benefit may vary from one credit union to the other. The minimum benefit offered is €1,000 in the Republic of Ireland and £750stg in Northern Ireland and the maximum is €3,250/£2,500stg respectively. You should check for details of the benefit offered by your credit union.

The DBI service is available to eligible members of participating credit unions. The following eligibility criteria apply:

  • You need to be in good health or able to actively and regularly perform your normal occupation or duties when or after joining the credit union,
  • You need to have joined the credit union before the age of 70,
  • You need to remain a member of your credit union and have maintained the minimum share balance required under the credit union’s eligibility requirements,
  • You need to be over 16 years of age. Please note persons under the age of 16 may also avail of DBI but you should check with your credit union.


Once you are eligible to participate in thecredit union’s policy when you join your credit union you will continue to be eligible for the benefit even if your health deteriorates, as long as the credit union decides to keep the insurance policy in place and you maintain the minimum share balance required by your credit union for participation. Please note the minimum share balance required for participation can change from year to year. Cover is subject to terms and conditions and you should check with your credit union for further details.

Accidental Death

DBI also covers accidental deaths. In these circumstances where eligible, the DBI benefit amount ordinarily payable is doubled.

What does it cost and how do I apply?

To check if you are covered for DBI you should talk to your credit union. They will provide you with all the relevant details.