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Credit Life / Credit Disability
Credit Life: This insurance is available to both borrowers and co-borrowers. Should a covered borrower die, the loan balance is paid off. This protects loved ones from having to deal with a deceased borrower's loans afterward providing members with piece of mind.
Credit Disability: This insurance is available to both borrowers and co-borrowers. You must work at least 25 hours per week to be eligible for coverage at time of election. You are protected because your loan payments are made if you become temporarily or permantly disabled for more the 30 days. Your loan payments are made and your credit record is protected. Disability coverage on your Credit Union loans also protects other disability income you may receive because you do not have to use that to pay your Credit Union loans.
Both life and disability coverage are elective. You only pay for coverage the length of time you need it. Once a loan is repaid, the coverage stops. We never finance premiums like banks and finance companies saving you additional money.
As most persons are under-insured, the Consumer Federation of America recommends these coverages when obtained through your Credit Union.
Life Savings
One of the many extras that the Credit Union provides is life insurance on your share savings account. There is no direct cost to you for this protection. Your savings balance is insured up to $4,000.00 combined savings balance. The percentage of the insured balance varies upon the age of the member. Benefits are paid to the beneficiary chosen by you, the primary member of the account. Stop by our office for more details.
Accidental Death & Dismemberment / Automobile Insurance
Periodically throught the year, CUNA Mutual Insurance (a Credit Union partner) will offer members an opportunity to purchase Accidental Death & Dismemberment (AD&D) coverage and/or Automobile coverage. Both coverages are available at competative rates and the mailings are sent directly from CUNA Mutual. |
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