Although this is a subject many people don’t like to think about, we understand that it is important. As a member we provide you with Life Protection which covers the savings and loans you hold with us. There is no direct cost to the member and you don’t need to do anything to activate the protection. It is an automatic process which is completed when you join us. 

Our Life Protection would double a member’s savings balance in the event of their death before age 65 and clear an outstanding loan balance in the event of their death before the age of 70, subject to terms and conditions. Life Protection has enabled us to help many members families through a period of uncertainty. It can give you and your loved one’s peace of mind, knowing this could help ease the financial stresses.

How we protect your savings
Should the worst happen, our Life Protection covers your savings up to a maximum of £40,000 across all accounts, between the ages of 0 to 65. Life Protection may double the balance of your savings, subject to terms and conditions. The maximum amount of Life Protection paid out will not exceed £80,000.

If you were to pass away under age 65 with £15,000 in your savings, No1 CopperPot would pay £30,000 to your estate, subject to terms and conditions.

How we protect your loans

We also cover your loans up to a maximum borrowing of £40,000, between the ages of 18 to 70. This means that your loan would be cleared, ensuring that your debt does not remain outstanding, subject to terms and conditions. 

Extended Life Protection is also available exclusively for the 70+ Loan, available for members aged 70-80. For more information on this Life Protection please click here.


If you were to pass away under age 70 with an outstanding loan of £10,000, No1 CopperPot would clear your loan, subject to terms and conditions.

Life Protection is not available on mortgages.

Terms and Conditions

All benefits are paid at the discretion of our Board of Directors. Life Protection is not an insurance policy and is not guaranteed. There is a pre-existing medical condition clause that is included as standard. The terms are as follows:

  • Each new savings deposit or loan agreement that you make is governed by the six month pre-existing medical condition clause.
  • The benefit will not be paid on your outstanding savings or 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 making the savings deposit or loan.
  • This pre-existing medical condition clause lasts for a period of six months from the start date of each savings deposit or loan. If you were to die six months or more after the date of the savings deposit or loan, this would not apply.

Exclusions to Life Protection

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.

Claiming Life Protection

If your family member has unfortunately passed away and you are looking at settling their account and claiming Life Protection, please send an email to

We would be grateful if you could provide us with your contact details and their name. We will be in touch as soon as possible to help you through the process.