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All deposits in your credit union are federally insured up to $100,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency. Also, the NCUA examines the Credit Union annually for safety and financial soundness. Key Benefits
Credit Life Insurance pays the insured balance of your loan, up to the policy maximum, in the event of your death. This ensures your family will not be left with your loan debt. If you adopt coverage, your payment will be adjusted to cover the premiums which are added to your loan balance each month. You are eligible for insurance up to the maximum age for insurance (age 70). Insurance will stop when you reach that age. For full policy details and premium amounts ask a credit union representative.
Because your financial security is important to us, your Credit Union provides $1,000 of insurance coverage for all eligible members. There is no cost to you whatsoever. You are protected 24 hours a day, at home or at work-wherever you go. This is another valuable membership benefit. Additional coverage up to $250,000 is available at very reasonable costs with no questions asked. Ask a member service representative for more information when you visit one of our offices.
In the event you become totally disabled by sickness or an accident, credit disability insurance pays your loan payments up to the policy maximum. If you adopt coverage, your payment will be adjusted to cover the premiums which are added to your loan balance each month. You are eligible for disability insurance only if you are working for wages or profit for 25 hours a week or more on the date of any advance. If you are not, that particular advance will not be insured until you return to work. If you are off work because of temporary layoff, strike or vacation, but soon to resume, you will be considered at work. You are eligible for insurance up to the Maximum age for insurance. Insurance will stop when you reach that age (age 66). For full policy details and premium amounts ask a credit union representative.
If the down payment on your vehicle loan is 20% or less and your auto is totaled or stolen in the first year or two your auto insurance probably will not be enough to pay off your loan balance. You could owe several thousand dollars and not have a vehicle to drive. GAP Insurance pays this balance off. Ask one of our Loan Officers how you can get this valuable coverage at a very reasonable cost.
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Last modified: 01/19/07 |
