The Credit Union offers disability1 and credit life insurance for
a small monthly premium on both secured and unsecured loans to protect you and
your family in the event of death or disability. You may only purchase coverage
at the time you receive the original loan. The maximum benefit is $25,000 with
life and $42,000 with disability coverage. Coverage is provided until the age
of 70.
Premiums are added to the loan monthly, and the costs are listed below.
Credit Life and Disability Premiums
Single Life
$.06 per $100 of balance
Joint Life
$.08 per $100 of balance
Single Life and Single Disability
$.21 per $100 of balance
Joint Life and Single Disability
$.23 per $100 of balance
1 Disability insurance is only available in conjunction with life insurance.
