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Credit Life & Credit Disability Insurance

If something should happen to you, your loan obligations could potentially place a burden on your family. To protect your assets and your family’s financial well-being, consider Credit Life and Credit Disability Insurance for your next loan.1

  • Credit Life Insurance triangle
    Credit Life Insurance The amount remaining on your loan will be covered if you pass away before your loan is repaid.
  • Credit Disability Insurance triangle
    Credit Disability Insurance The amount remaining on your loan is made in payments if you become sick or disabled and are not able to work.

Credit Life

Credit life insurance reduces or pays off the balance of an insured credit union loan in the event of your death. The coverage spares your family from the additional financial obligation of repaying your loan. Since credit life insurance covers a specific loan, the benefits from other life insurance plans can be used for your family's day-to-day living expenses or providing for future needs, such as a child's college education. Credit life insurance costs just pennies a day.

Maximum Benefit Amount - $55,000 per insured2
Maximum Benefit Term – 120 months
Age Maximum/Termination - 70


Calculate Coverage

Safeguarding
CreditDisability

Credit Disability

Credit disability insurance makes your loan payments for as long as you are unable to work due to a covered disability. The cost is reasonable, and it may help create a safety net by helping you avoid missing loan payments. The premium is built into your loan payment so there are no additional payments to setup.

Maximum Benefit Amount - $30,000 per insured per disability, $600 monthly maximum
Maximum Benefit Term – 120 months
Age Maximum/Termination - 66

CALCULATE COVERAGE

Affordable Protection

We make Credit Life and Credit Disability coverage available to you at great low rates. Credit Life Insurance is available for $0.54 cents per $1,000 of the outstanding monthly loan balance for single coverage, and $0.87 cents per $1,000 of the outstanding monthly loan balance for joint coverage. Credit Disability Insurance is available for $1.47 cents per $1,000 of the outstanding monthly loan balance for single coverage and $2.79 per $1,000 for joint coverage. Discounts are available when you purchase both Credit Life and Credit Disability coverages and one or both coverages are also joint. A monthly premium is calculated on the declining loan balance, assuring you are only paying for the insurance you need.

Affordable Protection

How Do I Enroll?

The easiest way to enroll is to add the insurance when you apply for your loan, there are no health questions or extra paperwork at that time.

 

If a you choose to add coverage to an existing loan after the loan has been finalized, you are required to answer a few health questions to qualify for the coverage.


  Calculate credit life & disability coverage

1Credit Life and Credit Disability Insurance are not available on first mortgages, construction loans, land loans, home equity loans and lines of credit, and all pledge of savings or certificate account loans.

2 The maximum insurable benefit for credit cards is $30,000.

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