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When you apply for a loan with EECU, you do so with the intention of paying it back. But if the unexpected happens and you are unable to pay the loan because of an accident, disability or death, your loved ones would be responsible for the loan payments.
Effective After Loan Funding and First Premium Payment
30-Day Cancellation Period
Insurance Premiums Added to Loan Balance
Policy May be Purchased at Loan Funding or Any Time After
No Medical Exam1
Credit Life & Disability Insurance will pay off the loan in the event of your death, or take over payments should you become disabled. It not only makes life easier for your loved ones, it also protects your credit rating by making sure the loan doesn't end up in default.
You'll find the cost of Credit Life & Disability Insurance to be quite affordable, as premiums are tied only to the loan amount and not to your age, as with most types of insurance.
For more information on Credit Life and Disability Insurance, visit any EECU branch or call our Member Service Center at 1-800-538-3328 and choose option 3 to speak with a loan representative.
1If you apply for coverage after your loan has been in place for 30 days, you will be required to provide evidence of good health.
Credit life and credit disability insurance (CL & CD) is provided by EECU. EECU membership puts you in the EECU group of covered individuals and makes additional coverage available to you. CL & CD is not an obligation of EECU or guaranteed by EECU, even though an EECU employee may assist you with CL & CD. Any disputes regarding CL & CD insurance must be resolved between the EECU member and the insurance carrier (Minnesota Life) and/or EECU.
Exclusions:
Credit Life & Disability Insurance does not cover suicide that occurs within one year of enrollment. In some states, the policy does not cover pre-existing medical conditions. Benefits are not provided if illness or injury are the result of self-inflicted injuries, normal pregnancy, war-related injury or illness, or medical conditions for which the insured received medical treatment, advice or diagnostic tests for the same or related condition within 6 months prior to the policy's effective date. However, total disability resulting from any such condition or related condition will not be excluded if total disability commences six months or more after the policy's effective date.
This is general information only. Please refer to your actual certificate for terms, conditions, coverage, limitations, and restrictions.
EECU CA License # 0711830
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