Credit Life and Credit Disability Insurance can help protect your family from the unexpected.
A loan is a commitment, a promise you're expected to keep. And if you were to die or become disabled, would your family be able to keep that promise?
Credit Life and Credit Disability Insurance from CUNA Mutual Insurance Society gives you and your family a convenient, affordable way to help keep your loan repayment promises.
Plan Benefits
The basic plans are easy to understand. In the event of your death, credit life insurance pays the balance of your loan, either the balance remaining or up to the policy maximum of $100,000, whichever is less.
Credit disability insurance makes your loan payments, up to $1,100 per month per loan, if you were to become disabled by a covered sickness or accident which persists beyond the 14-day waiting period. After the 14-day waiting period has elapsed, the benefit is paid back to the first day of disability
Credit life and credit disability insurance can:
- Reduce your financial burden and protect your family.
- Protect your income, your collateral and your credit rating.
- Provide coverage at home and at work.
- Provide peace of mind.
How much does it cost?
You can be assured that your loan promises can be kept for just pennies per day. Premiums are added to your monthly loan payments for your convenience.
To qualify for credit life:
Credit life is available for those member under the age of 71.
To qualify for credit disability
- Credit disability is available to members under the age of 66.
- You must be working for wages or profits for 25 hours or more a week on the date of the initial application for insurance.
Eligibility, exclusions, benefits, and termination provisions may vary according to DFCU Financial's master contract which is controlling in all instances. Be sure to consult a a Member Relations Representative for complete details.
Apply every time you take out a loan
Credit Life and Credit Disability insurance give you a convenient, affordable way to keep your loan repayment promises. The easiest way to enroll is to add the insurance when you apply for your loan. There are no health questions or additional paperwork at that time.
Consider your family and how important this coverage may be to them. Talk with a Member Relations Representative for more information.
Credit Life and Credit Disability Insurance are offered through CUNA Mutual Insurance Society. CUNA Mutual Insurance Society has been providing insurance protection for credit union members since 1935.