Credit Insurance

Life can get complicated when unforeseen events occur. Protecting your loan payments against covered qualifying life events and unexpected disability with credit insurance could help protect more than your finances. It could help lighten the financial burden for the people you care about most.

Coverage Basics

We make available Credit Life and Disability Insurance1 on most of our personal loan products.2 Coverage is available as a one-time option that you must select at loan origination. You cannot add coverage or change your coverage option after your loan has been originated.

Credit Insurance coverage includes the following benefits:
  • 30-day “free-look” period3, 4
  • $600 maximum insured monthly loan payment
  • $50,000 maximum insured loan balance
  • Coverage available up to age 705
  • Coverage can be canceled any time, for any reason, by written request3, 4

Credit Life Insurance

Credit Life Insurance may pay up to $50,000 toward an outstanding loan balance in the event of an insured’s death, accidental dismemberment or certified diagnosis of a terminal illness.6 Single or joint7 coverage is available on unsecured signature loans, vehicle loans, share-secured loans and term note loans.

Credit Disability Insurance

Disability coverage may pay up to $600 a month toward your loan payment in the event you become disabled.8 You must be disabled for at least 30 days to qualify for benefits. After 30 days, the policy coverage is retroactive to the first day of disability and benefits are paid according to the policy certificate.

Credit Disability Insurance is not available as a stand-alone coverage option; it must be selected in conjunction with single or joint Credit Life Insurance.9

Filing a Claim

Claims under your Credit Insurance policy can be filed by contacting your local branch or Member Services at (888) 732-8562.

Note: Member Services offers Lending Services from 8:00 am to 9:00 pm (Eastern).
1 Credit Insurance policies are underwritten by CMFG Life Insurance Company, a subsidiary of TruStage Financial Group, Inc.
2 Credit Insurance is not available on Visa® credit cards, Salary Advance loans or real estate-secured loans.
3 You are entitled to a full refund of premium (if a premium was charged) for cancellation of coverage within the first 30 days of loan origination. Cancellation requests must be received in writing.
4 Any refund of premiums will be applied to the outstanding principal loan balance. Cancellation of insurance at any time during the life of the loan will not affect the regularly scheduled loan payment amount. Coverage cannot be reinstated on the loan once canceled.
5 Coverage ends on the last day of the month in which the covered borrower reaches age 70.
6 Coverage excludes death ruled a suicide for 12 months from the date of new loan origination or advance. Coverage excludes death due to a pre-existing condition within six months of the date of new loan origination or advance. Death is considered to have been caused by a pre-existing condition when it results directly or indirectly from, or is contributed to by, a disease or bodily injury for which medical advice, diagnosis or treatment was received at any time during the six months immediately preceding a new loan origination or advance.
7 If both insured parties die at the same time or as a result of the same calamity, only one death benefit is paid.
8 Disability coverage not available on term note loans; only Credit Life Insurance.
9 Coverage is available only for primary borrowers who work 25 hours or more per week on the date of any new loan origination or advance. Coverage excludes disability resulting from a normal pregnancy, disability beginning within the six month period after a new loan origination or advance, or disability resulting from any disease or bodily injury for which medical advice, diagnosis or treatment was received within the six month period immediately preceding a new loan origination or advance.

Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company (Home Office: Waverly, IA), is optional to purchase 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. Base Policy Nos. CI-MP-POL, CI-SP-POL, B3a-830-0996, B3a-800-0695, B3a-800-0288, CI-MP-CE-POL; CI-MP-OE-CC-POL; CI-MP-OE-POL; B3a-800-0992.