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Services Death Benefit Insurance

Death Benefit Insurance


All eligible members of Synergy Credit Union can apply for insurance covered under our Death Benefit Insurance Policy. This means in the event of your death, a lump sum of €1,950 will be paid to your family to help with the cost of funeral expenses, thereby easing the financial burden of bereavement.

Nobody enjoys talking or even thinking about their own mortality. However, the simple fact is funerals are now extremely expensive and very few people realise the impact funeral bills will have on their lives.

Death Benefit Insurance won’t ease bereavement but it will go a long way towards easing the financial burden your death may place upon your family.

Eligibility for Death Benefit Insurance?

You are a member of Synergy Credit Union.

Only Adult members are eligible (age 17+)

You joined before the age of 70.

You have a minimum of €100 in your Savings Account at the date of your death.

What is Death Benefit Insurance?

Your savings attracts €1,950 towards funeral expenses and is payable in the event of your death.

The annual premium is paid by Synergy Credit Union at the moment as an added member benefit. (The Board reserves the right to charge for this benefit in the future)

In the case of accidental death the benefit payment is doubled to €3,900.

What do I need to claim the insurance?

Firstly, please contact the Credit Union on our Freephone number 1800 272927 to inform us of the death. Once you have the following items, please contact us to arrange an appointment to speak to a dedicated member of staff:

  • Original Death Certificate
  • Member's Credit Union Passbook/Statement
  • Funeral Director's bill

Given the sensitive nature of Death Benefit Insurance, we would prefer to deal with members on an appointment basis. This is to ensure both an appropriate staff member and office are available. We are conscious that this is a very difficult time and we do not wish to cause any further distress should an office not be available.

Note:Just one copy of the Death Certificate is required to claim for all 3 insurance services; Life Savings Insurance, Loan Protection Insurance and Death Benefit Insurance.

How long does it take to complete the claim?

Each claim is different. Once all the documents have been provided, the process takes in the region of 6 weeks. Once we are in receipt of the insurance, we will contact the relevant nominated party/parties.

For further information please contact Synergy Credit Union on 025 31921 or by email

Contact Us
  • Synergy Credit Union
  • Tel: 1800 272927
  • Fax: 025 32503
  • Email:
  • Address: 27/29 Patrick Street, Fermoy, Co Cork
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Synergy Credit Union Ltd is Regulated by the Central Bank of Ireland. Reg No. 126 CU