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.

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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.

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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

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2 in 1 Life Plus

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

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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

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.

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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.

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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.