Credit Life/ Disability Insurance

Credit Life/Disability Insurance

Why do members need payment protection?

No one may like to think about it, but we never know when death or disability will strike. MEMBER'S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CUNA Mutual Insurance Society, can be purchased to cover your loan to help reduce or pay off your loan or loan payment, in the event of death or total disability respectively.

Your premium payments and your coverage ends when you've paid off your loan. This means you're only buying the exact amount of insurance to cover your loan, so you're not paying for any extra coverage. Each year this important coverage helps reduce or pay off covered loans for thousands of borrowing consumers and their loved ones.

Credit Insurance is voluntary and is not required in order to obtain a loan.

What are the benefits of MEMBER'S CHOICE® credit life insurance?

• Reduces or pays off your covered loan balance up to the policy maximum
• Helps protects survivor's credit rating
• Helps protect collateral against repossession
• No separate payment-premium added to your loan payment
• No complicated enrollment forms or physical exam required if enrolled within 30 days of receiving the loan

• May reduce financial burden during recovery
• Helps protect credit rating and collateral
• Pays your covered loan payments, up to the policy maximum, if you become totally disabled
• No separate payment-premium added to your loan payment
• No complicated enrollment forms or physical exam required if enrolled within 30 days of loan closing
• Must be disabled for 30 days or more. Benefit is retroactive back to the first date of disability