Protection For When Life Happens.

Protection For When Life Happens.

Credit Life Insurance can help you prepare for the unexpected.

John Lennon said that “life is what happens when you’re busy making other plans.” While we often plan for our next home, car or vacation, some life events are unpredictable. A sudden, unexpected death can destroy a family’s finances. This is where Credit Life insurance can offer peace of mind.

What is Credit Life Insurance?

Credit Life insurance is insurance placed on a loan. If one of the loan borrowers passes, credit life insurance will cancel or reduce the loan balance. It reduces the financial burden on the remaining borrower or surviving family members, allowing other life insurance policies to be used for funeral expenses, mortgage payments or other family needs.

Credit Life Benefits

  • Coverage is available for vehicle, personal and home equity loans
  • Low-cost of just $.66 per thousand if a single borrower owns the loan or $1.15 per thousand if joint borrowers own the loan
  • Can cancel or reduce the loan balance if a borrower passes during the term of the loan, up to a maximum of $30,000 per loan.

Protect your family against the unexpected at an affordable low cost.

Request a quote for Credit Life Insurance today.

Get a Quote Now

Important Legal Disclaimer

Exclusions & Limitations

A credit life benefit will not be paid if the claim is related to:

  • A pre-existing condition when the claim is incurred within 6 months following the effective date of insurance. The effective date of insurance is the later of the issue date of the certificate, the date of an advance, or the date the application for insurance is signed.
  • Suicide within 6 months following the effective date of insurance. The effective date of insurance is the later of the issue date of the certificate, the date of an advance, or the date the application for insurance is signed.

 

30-Day Trial Period

A borrower has the right to cancel Credit Insurance. If insurance is cancelled within 30 days of enrollment, we will provide a full refund of the premium 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 CHOICE® Credit 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 Group Policy for a full explanation of the terms.