Free Life Cover

When you save and borrow with Fire CU

At this credit union we do things differently!

As a member, your savings and loans include free life cover (at no extra cost).* Allowing you to borrow with confidence and support your family when they need it most.

Our members are automatically covered on savings and loans up to the value of £25,000, subject to certain terms and conditions related to age and pre-existing medical conditions.

Free Life Cover on Loans

Free life cover on the first £25,000 on loans (covered up to age of 70). This means the first £25,000 of your loan can be cleared*

  • The maximum life cover on loans is £25,000.
  • This means, any loan up to the value of £25,000 can be cleared should the worst happen.
  • Allowing you to borrow with confidence.
  • Life cover on loans is provided up to the age of 70.

Free Life Cover on Savings

Free life cover on savings up to £25,000 (covered up to age of 65). This means the first £25,000 of your savings can be doubled.*

  • The maximum life cover on savings is £25,000.
  • This means, the first £25,000 of your savings can be doubled, should the worst happen.
  • Supporting your family when they need it most.
  • Life cover on savings is provided up to the age of 65.

Once a member always a member

Even if you leave your current role or retire, you are still eligible for this benefit at no extra cost*

Frequently Asked Questions

The members Next of Kin, should contact us directly on 0121 700 1230 or to notify us of the Death as soon as possible.

The initial information we would require would include the date of Death of your loved one, Next of Kin’s personal details including full name, home address and contact number.

After the initial contact, the Next of Kin will then shortly receive a letter to their home address, outlining the process regarding how the account will be dealt with and what documentation we require.

Understandably, all claims are different and time periods can also differ. On average a claim usually takes around 8 – 10 working days to receive the funds, once all required documentation has been received.

All members have the option to complete a Beneficiary Form upon joining. This would give the option for the first £5,000 of a member’s account to be paid to a nominated person, which can be processed on receipt of a Death Certificate. You can change your nominated beneficiary at anytime contacting us directly on 0121 700 1230 or

*The free life cover benefit is subject to the terms and conditions of Serve and Protect Loan Protection and Life Savings policies, arranged by CMGL and underwritten by Covea Life Ltd. Note that this protection is a benefit of membership provided at no extra cost to the member. The Credit Union is the policyholder for Loan Protection and Life Savings.

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