If the party concerned has died, the insurance company will make compensation according to the terms of the insurance contract. If the beneficiary in the insurance contract is the legal beneficiary, the debts owed by the parties must be deducted first. That is, the amount of insurance paid is to deduct the credit union loan. If the beneficiary in the insurance contract is the designated beneficiary, the insurance amount shall be paid directly to the beneficiary of the party concerned, and the bank shall recover the loan from the beneficiary.