Planning for the unexpected may seem impossible, but it isn't.
There's no way anyone can fully prepare for an injury, medical-related illness, or unexpected death... but you can take steps along the way to protect your credit, your investment, and to make sure your loved ones are provided for if the unexpected were to happen.
Fully Covered, Fully Confident
The LIFE Foundation conducted a study that found that 70
percent of working Americans couldn't make it one month before financial difficulties set in. More than 25
percent wouldn't make it one week.*
Our Member's Choice Credit Disability and Credit Life payment protection products are a way to help cover you and your loved ones if the "unexpected" happens.
Why Is It Valuable?
Member's Choice Credit Disability and Credit Life payment protection works in two different ways. If you become totally disabled due to injury or medically ill, it will help pay your loan until you're fully recovered. Or in the event of an unexpected death, it will help pay off the loan. Your savings, salary, disability income, or payoffs from other insurance may be protected, freeing up those funds for living expenses and giving you financial security -- and peace of mind -- when you need it the most.
How Does It Work?
By taking a few simple steps when signing your loan paperwork, you can help take responsibility for your (and your family's) financial future. Your loan officer will show you how and answer any questions you may have. The premium is included in your monthly payment, so you won't receive extra bills or statements.
What If I Change My Mind?
You can cancel within the first 30 days for a full refund. Or any time after that if you change your mind. If at any point you have questions, or if your family needs to file a claim, simply contact your credit union and deal with the Coosa Pines FCU professionals you know and trust. Coverage begins for eligible borrowers once you complete your loan documents.
For details on Credit Life and Credit Disability Loan protection, call or stop by your favorite CPFCU branch to speak with a loan officer or member service representative.
Coverage is available for both conventional and open-end loans, though some restrictions, maximum benefits and exclusions may apply. This insurance is voluntary and must be elected by the member to fill gaps in existing insurance coverage. Disability and life insurance products can be purchased either separately or together. The credit union will provide a certificate of coverage and information on how to file a claim. Premiums are added to the credit union loan. This insurance product is provided by the companies of CUNA Mutual Group, www.cunamutual.com. CUNA Mutual Insurance Society, a member company of the CUNA Mutual Group, underwrites this product.
*Life and Health Insurance Foundation for Education website, 2010