Life savings - what it is and how it helps

We want to help you and your family, no matter what! That’s why every member gets Life Savings - a free gift just for saving with us.

If something happens to you, we’ll double your savings (up to £25,000) and give the money to someone you choose. This can help with high costs, like a funeral.

What is the Life Savings benefit?

It’s a way to make your savings worth more! If you pass away, we match the amount you saved (up to £25,000) and give it to your loved ones.

It’s our way of helping your family when they need it most.

Who gets this benefit?

You do! If you’re saving with us, it’s automatic.

Here’s what to know:

• If you die between 16 and 64, you will be covered.
• You must have no medical issues when you start saving with us (subject to terms and conditions).

If you’re over 65, your savings aren’t covered anymore.

How much money does your family get?

It depends on how much you’ve saved (up to £25,000) across your Serve and Protect accounts.

Example:

• If you save £5,000 in total across your Serve and Protect accounts, your family gets £10,000. That’s your savings doubled!

Some rules:

• If you pass away within 6 months of saving due to an illness you already had, your savings might not qualify.
• Terms and conditions apply (set by CMutual and Aviva).

How does your family get the money?

It’s simple!

1. Your chosen person calls us, or we are informed by your employer (if saving via payroll).
2. We will ask them for a death certificate and fill out a short form.
3. We then work on the claim and aim to give them the money as quickly as possible.

Who will the money go to?

In terms of who gets the money, you have a couple of options:

• You can select a beneficiary who can receive up to £5,000 without further information.
• Or it would go to the individual nominated as a beneficiary in your will, or whoever obtains a grant or probate.

Why is this benefit helpful?

It’s free, automatic, and helps your family when they need it most!

If you have questions or need help choosing your beneficiary, call us anytime. We’re here to help!