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General Information about Credit Insurance
What are credit life and credit disability insurance? Credit life insurance pays off a member’s eligible outstanding loan balance, up to the policy maximum, if he or she dies before the loan is repaid and the claim qualifies. Credit disability makes a member’s eligible loan payment, up to the monthly maximum, if he or she is totally disabled by a covered illness or injury.
What is the value to members? Offering credit insurance as part of a loan package meets a real member need. Many borrowers want to protect their family, collateral, and credit rating. Providing a loan package complete with credit insurance helps them do that. Any credit insurance program should help provide peace of mind and member convenience.
Peace of mind:
· Helps protect member’s family, credit rating, and collateral
· Reduces or pays off loan balance due to covered loss of life, illness or disability
Convenient:
· Fast, easy enrollment
· Simple eligibility requirements
· Premium included in monthly loan payment
How do members enroll? The best time to enroll is at the time of the loan application. Most contracts do not require a physical examination or ask health questions. Coverage is effective immediately. However, in some cases health questions may be asked to determine coverage eligibility. Open enrollment may be available to members who previously turned down the coverage. Please contact your credit union’s loan officer for more information.
More info on Credit Life and Disability
© CUNA Mutual Group, 2009 All Rights Reserved B2BL-0309-024F
Underwritten by CUNA Mutual Insurance Society
MEMBERS® Auto and Homeowners Program
You trust Cal State L.A. Federal Credit Union to provide you and your family with quality products and services to meet your financial needs. We've joined with a dedicated team of insurance professionals to bring you the MEMBERS® Auto and Homeowners Insurance Program.
MEMBERS Auto and Homeowners is the property and casualty coverage solution preferred by the most credit unions and their members.
Convenient e-service, pay your bill or make changes to your policy, even report a claim.
Receive fast, easy access to claims service 24-hours a day.
Obtain a free no obligation quote or locate an agent at the local Liberty Mutual sales office.
Auto and Homeowners Insurance Quote
Clicking the link will take you away from Cal State L.A. Federal Credit Union's website. Liberty Mutual is responsible for the content of their page, and you should note that privacy and security policies may differ.
The MEMBERS Auto & Home Insurance Program is underwritten by leading insurance companies, including Liberty Mutual Insurance Company and its affiliates, 175 Berkeley Street, Boston, MA. The insurance offered is not a deposit and is not federally insured or guaranteed by your credit union.
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