Member Death Benefit Insurance (MDBI) was designed by CMutual to service various growing needs within Credit Unions.
• Credit Unions are finding that traditional Death Benefit Insurance can be a significant cost on the balance sheet
• Death Benefit Insurance can be a barrier for mergers
• Credit Unions are looking to offset changes to Life Savings benefits
MDBI is a member pay death benefit programme that removes the cost of traditional Death Benefit Insurance from the balance sheet, while keeping the benefit in place for those members who value it most. CMutual will work closely with you to assess product suitability, tailor a solution, launch and market a sustainable MDBI programme in your Credit Union.
• Removes cost from Credit Union balance sheet
• Little administration for the Credit Union
• Credit Union is the policy holder, just like your Life Savings Benefits
• It is an unadvised sale
• Existing members over 71 can enrol in programmes*
• No medical questions for members
• Multiple enrolments annually, it's easy to enrol