Loan

Do you have family responsibilities and dependants who rely on your income? Is your total debt load more than 25% of your income? Meeting your loan payments without your income can cause financial stress for your whole family. Additional medical, childcare, or housekeeping costs can be an extra burden if your income is reduced due to accident or illness. Protect your savings with loan insurance.

Credit life and disability insurance can protect you and your family from the unexpected.

Benefits:

Choice of life only, disability only, or both.

Available for all joint parties and guarantors or co-signers
Premiums can be added to borrowed amount
Protects credit rating and security
Flexible choice of single or joint coverage
Convenient with benefits paid directly to St. Joseph's Credit Union on owners behalf

Credit Life Insurance

Features:

Maximum Coverage $90,000.00
Maximum Term 180 months
Minimum Age 16
Maximum Age 69
Available to age 69 - expires on 75st birthday
All borrowers under age 70 qualify

Pre-Existing Conditions

Loans with balances $10,000 or less pre-existing conditions are covered with no exclusions
Loans with balances greater than $10,000 are not covered if death occurs within first six months from loan date and results from a pre-existing condition. Death from other causes are covered. Pre-existing conditions are covered after six months.

Credit Disability Insurance

Features:

Maximum Monthly Coverage $1500.00
Minimum Age 16
Maximum Age 69
Elimination Period 30 Days
Maximum Benefits 72 Months
Qualify prior to 70th birthday and only covered to your 75th birthday
Temporary or permanent disability
Must be working a minimum of 20 hours a week for two consecutive weeks or for seasonal workers, capable of working
Can be added at time of loan application or at any time before the loan is paid.