Credit Life, Disability, and Unemployment Insurance
Protects you and your family from unforeseen circumstances, including loss of a life, an unexpected disability, loss of employment, or an unpaid family leave. All of these “protected events” are difficult to predict.
How Does it Work?
This voluntary insurance premium is included in your monthly payment; you won't receive extra bills or statements. If you have a balance on your loan and are totally disabled due to injury, illness, or in the event of an unexpected death, Credit Life
and Credit Disability Insurance can help.
Why is it Valuable?
Credit Life and Credit Disability Insurance works in two different ways. You and your family won't have to make loan payments if you're totally disabled due to an injury or illness. It will help pay your loan until you're fully recovered, or in the event
of an unexpected death, it will pay off the loan. Savings, salary or payoffs from other life insurance may be spared, giving your family financial freedom when they need it most.
Read more about Loan Protection
Two options available:
- MEMBER’S CHOICE® Credit Life Insurance is a voluntary coverage that can help reduce or pay off your loan balance, up to the maximum limit, if you or your covered co-borrower passes away.
- MEMBER’S CHOICE® Credit Disability Insurance is a voluntary coverage plan that helps make monthly loan payments, up to the maximum limit, should you become totally disabled, until you are no longer disabled.
You can add these insurance plans to your auto loans and/or personal loans or lines of credit. Other features include:
- Automatic eligibility for most borrowers
- Simple enrollment
- No medical screening
- Cost included in your loan payment
You may cancel the protection at any time. If you cancel protection within 30 days you will receive a full refund of any fee paid.
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Your purchase of MEMBER'S CHOICETMCredit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance
Company, is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or
refer to the Policy Agreement for a full explanation of the terms. Credit Life and Disability is not available on Home Equity Lines of Credit.
ECSFCU!
