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Credit disability insurance ensures payments to the Credit Union are continued in the event of disability of an insured borrower.
Features of the Credit Union's Credit Disability Insurance include:
- Maximum monthly benefit coverage of $1,000
- 84 months maximum term of coverage
- No health questions
- Benefits are paid regardless of other income
- Claim payments are made directly to the credit union
- Joint coverage is available
Payments are made to the financial institution on behalf of the insured member. Payments are made regardless of any other benefits (e.g. unemployment insurance, worker's compensation, group insurance at work) and are tax free to the member.
Credit Disability insurance is also available for joint coverage.
Check with individual Credit Unions for product availability.
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