Birmingham, 19 February 2010
WHEB Credit Union, a community Credit Union in Scotland with over 1,300 members, has teamed up with CUNA Mutual Europe to launch FamilyLIFE+ to its members.
FamilyLIFE+ is an affordable Life Assurance Policy designed to cover immediate expenses (such as funeral expenses) which arise upon the death of a family member. The product is unique because up to 12 family members can be insured on one policy. There are no medical questions asked for members under 70 years of age. There are four benefit levels to choose from - £2000, £3000, £4000 or £6000, depending on the members needs. Premium starts from as low as £2.00 per person per month and children under age 18 are added for free.
WHEB Credit Union was keen to promote this new product to their members. They could see that providing protection for funeral expenses was something that people needed to be aware of, and a simple affordable life assurance policy with no medical questions was the easy solution. Cathy Burnett, Manager at WHEB Credit Union, said that many of her members had often asked about a funeral expenses policy and she is delighted that she can now offer FamilyLIFE+ to them. With the Credit Union attracting on average of 8 new members per week, all new members are given the details in their welcome pack and the option to purchase the product when they join.
From discussions with members on the launch day, it was clear that FamilyLIFE+ is flexible to suit the circumstances of all families. Younger parents were happy that the whole family could be covered on one policy with children under age 18 insured for free. All members were pleased that the premium rate you paid for the policy was based on your age at entry and did not increase as you get older.
Members can log onto the FamilyLIFE+ on www.familylifeplus.co.uk to obtain a quote, view the Policy Summary & Customer Information Document, and if the policy suits their needs can purchase cover. Members of other Credit Unions can also log onto the website or call 0845 121 2416.