Free Life Cover

All our members benefit from our Bereavement Fund.
This is a FREE benefit for all Voyager Alliance members, giving financial help and peace of mind in the event of a member’s death.

From 1st March 2022 the Bereavement Fund will provide the following assistance –

If a member has a ‘nominee’ in place, Voyager Alliance Credit Union is able to release funds, up to the value of £5,000, with minimum documentation, following the death of a member. Our members matter, and we aim to make the process as simple as possible to ease the financial strain and support the ‘nominee’ in the early stages of bereavement.

* Subject to Terms & Conditions

What is a Nominee?

All Voyager Alliance members have the option to ‘nominate’ a person (or persons) to receive their money in Voyager Alliance, up to the value of £5,000, at the time of their death. This person is called the ‘nominee’ or ‘nominated beneficiary’. Having a nominee in place helps Voyager Alliance Credit Union release funds with minimum documentation following the death of a member.

Where a deceased member has more than £5,000 in Voyager Alliance, the first £5,000 will be paid to the nominee, and the remainder forms part of the deceased’s estate.

Please Note – Members can amend their nominated beneficiary at any time by completing a Nominee Appointment & Amendment Form. This can be done using the Nivo App. Contact our Customer Services team to check you registered nominee, to make changes, or for further information.

What happens if a member has no Nominee?

If a member has no nominee registered with Voyager Alliance at the time of their death, the Bereavement Fund will still be paid, but forms part of the deceased member’s estate. Grant of Probate, Letters of Administration or Grant of Confirmation in Scotland, and a completed Indemnity Form may be required before funds can be released.


Mr A is a Voyager Alliance member. At the time of his death he has £800 in savings and a £3,000 loan. Thanks to the Bereavement Fund, Mr A’s nominee would receive £1,600 (£800 savings, doubled) AND Voyager Alliance will cancel the loan repayment.

Mrs B is a Voyager Alliance member. At the time of her death, she has £20 in savings, and no loan. Thanks to the Bereavement Fund, Mrs B’s nominee would receive £500, the minimum pay out, even though her savings were £20.

Mr C is a Voyager Alliance member. At the time of his death, he has £20,000 in savings and a £6,000 loan. Thanks to the Bereavement Fund, Mr C’s nominee would receive £5,000; the £20,000 savings will be part of Mr C’s estate. Voyager Alliance will also cancel the loan repayment.

Terms & Conditions
  • Before a deceased member’s assets with Voyager Alliance Credit Union can be paid to a nominee (or person/s named in a last will and testimony), Voyager Alliance Credit Union will need to be in receipt of a death certificate. Other documentation may be required.
  • The nominee must satisfy identification procedures to establish who they are, and complete an Indemnity Form.
  • In the event of a legal challenge to a Bereavement Fund payment, payments will be suspended until the matter is settled.
  • A payment from the Bereavement Fund will only be made if loan repayments are up to date, and there are no arrears at the time of the member’s death.
  • Voyager Alliance Credit Union will always endeavour to honour the Bereavement Fund pledge in full. In the unlikely event of the fund being exhausted, a notice suspending the Fund will be issued. However, funds held in a deceased member’s account will always be set aside for the benefit of the nominee or legal claimant.