Not A Good Text Message It Was

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I received a text recently from the cooperative I joined reminding my loan due date and it would be better if I would pay it before Saturday because it’s a local holiday. They’re open Saturdays half day. So I just texted back that have it deducted in my savings. The person texted me back that it’s OK but reminded further that if in any case the balance of my savings went below 500, the insurance that I’ve also paying them monthly would be forfeited had something happened to me. Their insurance product would pay beneficiaries of the member if the member died. Why the forfeiture when in fact I’m paying my insurance in advance? I’m a bit confused. I get to clarify this with my next visit. It should not be because it’s a two different products paid separately. How could they make such policy? I was not informed about this and I can’t remember this was mentioned during the orientation prior to joining. Now I know. It’s unfair to the member and more on benefits for them if the member died but the family won’t receive the benefit for the reason that the member savings did not reach the maintaining balance. Imagine, you’re paying the insurance and on that reason just forfeit it? Are you a member of cooperative also?