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Maintaining Member Benefits while reducing

cost to the Credit Union.

Member Death Benefit Insurance (mDBI) was designed by CMutual to service the growing needs of Credit Unions, enabling them to maintain member benefits whilst reducing costs to the Credit Union.


Why choose Member Death
Benefit Insurance?

  • Your Credit Union may find that traditional 
    Death Benefit Insurance can be a significant cost on the balance sheet.

  • Death Benefit Insurance may be a barrier to any potential merger.


  • Removes cost from the 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

  • Members are eligible to enrol before their 71st birthday

  • No medical questions for members

  • It’s easy to enrol

  • Claims are settled within 24 to 48 hours of claim being made

  • Claims operate in the same manner as any DBI claim in the past, simply a claim form and death certificate made through the Credit Union

How does it Work?

A member paid death benefit Insurance (mDBI) is similar to a DBI scheme but the member pays the annual fee rather than the Credit Union. This removes the cost of traditional DBI from the balance sheet, while keeping the benefit in place for the members who value it most. Eligible members will receive a fixed benefit in their passing, subject to an annual enrolment fee being paid by the member. The Credit Union is the group policy holder.

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