Credit Life and Disability Insurance

Insurance Coverage for Your Loans

At STAR Community Credit Union, we  want to make sure you and your family are protected in the event of a life tragedy.

To help ensure that a life tragedy does not also become a financial tragedy for you and your family, we offer two types of payment protection:

  • Credit Life Insurance reduces or pays off your eligible loan balance should you pass away before paying off your loan.
  • Credit Disability Insurance makes your monthly loan payment should you become totally disabled due to a covered illness or injury. Payments continue until you return to work, the loan is repaid, or you reach the policy maximum.

If you have no disability or life insurance coverage or your current disability and life insurance coverage is inadequate, Credit Life and Disability Insurance may be valuable. They can also be a valuable addition to other insurance coverage—so consider whether your current insurance coverage will be enough to protect your credit in the event of an accident or tragedy. STAR Credit Life and Disability Insurance may be very important supplements to your current financial protection plan.

  • The Exact Amount of Coverage at the Right Price
  • Every eligible member pays the same low group rate
  • You only buy enough coverage to cover your loan balance
  • Premiums end once the loan is paid off
  • Fast, Easy Approval For Eligible Members—You just tell us you want it, and you’ve got it! There are no insurance agents involved in the enrollment process, nor are there any physical exams or complicated enrollment forms. Coverage is available right at the credit union, and protection begins the moment your loan is funded.
  • Benefits
  • Automatic eligibility for most borrowers
  • Simple enrollment
  • No medical screening
  • Immediate coverage
  • Premium included in your payment
  • 30-day “free look”: Premiums are refundable if coverage is cancelled within 30 days
  • Why It Makes Sense
  • Reduces or pays off your covered loan balance in the event of death
  • Makes payments for you in the event of your total disability
  • Helps protect the lifestyle and dreams of you and your loved ones
  • Helps protect your credit rating and the collateral with which your loan is secured
  • Offers the convenience of including coverage with your loan
  • Provides coverage at group rates
  • Requires no physical exams

Your purchase of MEMBER'S CHOICEŽ 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 Policy Agreement for a full explanation of the terms.

CDCL-0812-94DC Exp.08-08-2014



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