What are the benefits of payment protection in case of a disability?
You have the security and peace of mind that your loan will be paid when an accident or sickness strikes.
Your good credit rating is maintained even though a disability has caused a reduction in your income.
Workmen’s Compensation covers only on-the-job injuries, and the amount of the benefit is based on 70% your salary.
Under Social Security, the first six months of a disability are not covered. A person is not eligible for disability payments unless the condition is expected to continue for at least 12 months.
Co-signers have the peace of mind knowing that credit insurance is active.
PLUS
- Benefits are paid tax-free.
- Claims are paid quickly upon furnishing proof of disability.
- Your credit life and disability coverage pays benefits in addition to any other insurance protection you may have.
- Premiums are very affordable.
In the event of death all of your loans would be paid.
Contact your loan officer at the credit union for more information at 479-4040.
