Payment Protection
Protect you and your loved ones...
For your protection, we offer two types of Payment Protection for your loans - Credit Life and Credit Disability Insurance. This protection removes the burden and obligation of unpaid loans from your families or survivors.
Credit Life Insurance is designed to pay off the insured balance of your loan if you die during the term of the loan.
Credit Disability Insurance is designed to pay your loan payments (up to the insurance contract limit) if you become disabled due to a covered accident or illness and are unable to work at any time during the term of your loan.
Payment Protection can be purchased for most new and refinanced loans. For your convenience, the coverage is written directly into your monthly payment.
Credit Life Insurance for your CCU Visa® Credit Card is provided for members up to the age of 70, and the premiums are paid by the Credit Union as an added benefit to our members.
| Coverage Selected | Rate* |
|---|---|
| Single Credit Life | $0.060 per $100 |
| Joint Credit Life | $0.096 per $100 |
| Single Credit Disability | $0.225 per $100 |
Our convenient loan calculator will help you to determine your loan payment amount, including credit life and disability insurance.
