Credit Disability and Credit Life Insurance
If you’re applying for an Ascend consumer loan, credit disability and credit life insurance coverage offer you peace of mind at a minimal cost.
Credit Disability Insurance
In the event you become totally disabled due to a covered injury or illness, Credit Disability insurance can help pay your loan when you need it most. This coverage is available on most loans to eligible borrowers age 72 or under. Should you have a loan balance at the time you become disabled, your monthly loan payment may be covered up to $750. The total benefit amount is $50,000. Credit Disability is available to joint borrowers and kicks in even if only one of the borrowers becomes disabled due to a covered event.
Credit Life Insurance
Credit Life insurance is also available to protect your insured loan(s) in the event an unexpected life event occurs. A covered life event will include not only death, but also the certified diagnosis of a terminal illness and accidental dismemberment. This coverage helps reduce or pay off a covered loan up to $50,000. Borrowers may be eligible for this coverage if they are under age 72. Credit Life is available to protect both the primary and joint borrower.
Your purchase of MEMBER’S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Group Policy for a full explanation of the terms. CDCL-1267369.1-0815-0917