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Mortgage Protection Programs

Your home is one of your biggest and most important assets, so it makes sense to protect it. With our Mortgage Protection Programs, you won’t have to worry about paying your mortgage in case the unexpected happens. Whether it’s a death benefit to cover the full amount of your home loan amount or monthly disability coverage for your mortgage payment, you will have peace of mind knowing that your family will not have to take on the extra burden of covering a house payment.

As a Credit Union member, we want to work with you to customize a mortgage protection plan with rates that fit your needs and most importantly, your budget.

Mortgage Life Insurance

Benefits are paid to the credit union to pay off or reduce your loan. If the benefits are more than the balance of your loan, the difference will be paid to you if you are living or to the beneficiary named by you, if any, or to your estate.

Features:

  • Single or joint coverage available
  • Coverage up to $300,000
  • Premiums do not increase as you grow older
  • No benefit waiting period
  • Eligibility up to age 69

Contact us for details.

2 in 1 Life Plus

A low cost protection plan with a combination of Limited Benefit Life Insurance and Accidental Death Coverage.

Plan payment benefits:

If death by illness, sickness or disease

  • Pays 24 monthly benefit payments to your mortgage lender giving survivors time to decide what to do with house

If death by accidental causes

  • Pays off scheduled mortgage balance up top $100,000

Plus, pays 24 monthly benefit payments to your survivors.

Features:

  • Same premium rate for all ages and do not increase as you grow older
  • One or two borrowers eligible to apply
  • Second borrow premium is discounted
  • Choose the monthly benefit you want up to your monthly mortgage payment
  • Monthly benefit up to $2,000
  • Minimum monthly benefit $200
  • Eligibility up to age 65

Contact us for details.

Mortgage Accidental Death

An accidental death is one that results from an external bodily injury that occurs unexpectedly and suddenly without the insured person’s intent.

Features:

  • No health questions or physical exam
  • Eligibility for everyone under the age of 70
  • Insure the whole mortgage balance or any part of it
  • One or two borrowers can be insured for their loan
  • Coverage up to $300,000

Covered examples:

  • Drowning
  • Accidental smoke inhalation
  • Choking on gum or food
  • Motorcycle accident
  • Gun shot wound
  • Accidental hanging
  • Electrocution
  • Commercial airline crash
  • Pedestrian hit by an automobile
  • Farm tractor overturn
  • Kitchen grease fire
  • Crushed by a falling tree
  • Hunting accident
  • Stab wound
  • Bath tub accident

Some exclusions apply. Contact us for specific details.

Mortgage Disability Insurance

With Credit Disability Insurance, should you become totally and continuously disabled by a covered sickness or accident which persists beyond the policy waiting period, your loan payments are protected. Payments will be made, up to the policy maximum, during your period of disability. Disability benefits are payable for the duration stated in the credit union’s contract.

Features:

  • Protects loan from default if disabled
  • Coverage begins after 30 days of continuous disability
  • Up to 12 monthly insured benefits payments
  • Eligibility ages 18 up to age 66
  • Monthly benefit up to $1,500

Some exclusions apply. Contact us for specific details.