Payment Protection
There’s “crazy weekend in Vegas” unpredictable, and then there’s the kind of unpredictable you’d rather avoid.
We offer two payment protection options to help provide financial security for your family, should life take an unexpected turn. Credit Life and Credit Disability Insurances are designed to pay your credit union loans in the unfortunate event of disability or death.
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Credit Life Insurance
Single and Joint Credit Life can help pay off or reduce the insured balance on almost any UMe loan, in the event of the borrower’s (or co-borrower’s) death up to coverage maximums. The premium amount is included in the monthly loan payment.
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Credit Disability Insurance
Credit Disability Insurance may make monthly loan payments if the borrower becomes totally disabled due to a covered injury or illness for the time periods specified in the policy, up to coverage maximums. The premium amount is included in the monthly loan payment.