Questions? 1-800-307-0048

Benefits of Credit Insurance

When reviewing insurance products purchased in conjunction with a loan, one of the questions that should be considered is "What does this product do for me?" The answer to that question can be found by looking at the benefits each product has to offer.

Credit Life Insurance

While traveling along life's highway, you never know when you will be faced with a tragic accident or untimely death that can alter your family's planned course. Credit Life Insurance may pay your loan in full in the event of your death or that of the covered co-borrower. Money from other life insurance policies could then be used for final expenses, school tuition for the children or other household necessities, as you had planned, rather than to pay off your loan. What a great way to help to protect your family's lifestyle!

  • Maximum enrollment age is 64 in most states
  • No medical exam required (Issuance of the coverage is determined by age and answers to health questions on the application.)
  • Single and joint coverages available
  • Eligibility requirements may apply
  • Coverage may only be purchased in conjunction with a loan

One single premium provides protection for the duration of your loan. There are no monthly or annual insurance payments to worry about since the premium is included with your loan. Your premium can never increase and your policy cannot lapse during the term of your loan.

Plan to pay your loan off early? That's no problem. Credit insurance is tailored specifically to the term of your loan. You only pay for what you need. If you pay the loan off early, the unearned premium is refunded.

This insurance has exclusions. For costs and complete details, please consult with your representative or Agent.

Credit Disability Benefits

A disabling illness or injury can strike at any time. In most cases when disability strikes, the family quickly feels the effects of the lost income. Credit Disability Insurance will make the originally scheduled monthly payments on your loan if you are disabled due to a covered illness or injury. You don't have to be hospitalized to receive the benefits, but you must be under a doctor's care.

  • Maximum enrollment age is 64 in most states
  • Single and joint coverage available in most states
  • Must work full time (30 hours per week) in most states
  • Eligibility requirements may apply
  • Coverage may only be purchased in conjunction with a loan

Credit Disability Insurance pays regardless of any other coverage that you already have in place. Money from your other disability coverage will not have to be used to make the payment on your loan, freeing up more funds to use for household necessities like the mortgage, food, car payments, doctor visits, prescriptions, etc. What a great way to help keep the household running smoothly, just as you did prior to the onset of the disability.

Plan to pay your loan off early? That's no problem. Credit insurance is tailored specifically to the term of your loan. You only pay for what you need. If you pay the loan off early, the unearned premium is refunded.

This insurance has exclusions. For costs and complete details, please consult with your representative or Agent.

Credit Involuntary Unemployment Insurance (IUI) Benefits

Our economy is constantly changing. Corporate restructuring, company downsizing and plant closings have become more commonplace. Despite this trend, few people think their family will actually be impacted by an income interruption.

  • Must work 30 hours per week in most states
  • No age restrictions
  • Covered losses include involuntary termination of employment and layoff in most states
  • In most states, you must qualify for state unemployment payments to receive this benefit
  • Self-employed (including independent contractors) are not eligible to purchase coverage in most states
  • Eligibility requirements may apply
  • Coverage may only be purchased in conjunction with a loan

Credit Involuntary Unemployment Insurance (IUI) will pay benefits, as long as you qualify for benefits, up to a pre-determined maximum number of monthly payments on your loan if you become unemployed through no fault of your own including layoff, general strike, termination of employment, unionized labor dispute or lockout. Your originally scheduled monthly loan payment will be applied to the account, so money from your severance pay or unemployment benefits can be used to handle other household necessities.

You can help protect your family from financial hardship caused by circumstances beyond your control. What a great way to help to protect your family's lifestyle!

Plan to pay your loan off early? That's no problem. Credit insurance is tailored specifically to the term of your loan. You only pay for what you need. If you pay the loan off early, the unearned premium is refunded.

This insurance has exclusions. For costs and complete details, please consult with your representative or Agent.