70 Plus Loan Life Protection Terms and Conditions

Life Protection is automatically provided with the 70+ Loan at no extra cost to the member.

This Life Protection is exclusively for the 70+ Loan and covers up to £5,000 of borrowing per member up to the age of 80, subject to the following criteria.

Pre-existing medical conditions

There is a pre-existing medical condition clause that is included as standard. The terms are as follows:

  • The loan agreement that you make is governed by a six month pre-existing medical condition clause.
  • Benefit will not be paid on your outstanding loan balance if death results from a pre-existing illness or injury for which medical advice, consultation or treatment was received within six months prior to taking our loan.
  • This pre-existing medical condition clause lasts for a period of six months from the start date of each loan. If you were to die six months or more after the date of the loan, this would not apply.


War: Life Protection benefits may not be payable if a member is injured, becomes ill or dies resulting from an insurrection of any war, declared or undeclared, or service in the armed forces of any country.

Suicide: Life Protection benefits are not payable with respect to any savings deposit or loan paid into a member’s account if a member commits suicide, while sane or insane, within six months from the date of the savings deposit.

Savings: The extended Life Protection does not apply to any savings held within the Credit Union.

There is absolutely no cost involved to the member and you don’t need to do anything to activate the cover, it’s an automatic process which is completed when you join us.