Credit Life and Credit Disability Insurance

Life is unpredictable. Illness, injury, or loss of income can make it difficult for families to manage financial obligations. Credit Life and Credit Disability Insurance from Connect Credit Union helps protect your loan and your loved ones when unexpected events occur.

These optional protection products are designed to provide financial support during challenging times and help preserve your financial stability.

Credit Protection Insurance helps cover loan obligations when covered life events affect your ability to make payments.

At Connect Credit Union, we offer two types of credit protection for qualified borrowers:

• Credit Life Insurance
• Credit Disability Insurance

These products are typically available at the time of loan origination and may be included in your monthly payment.

Credit Life Insurance is designed to help reduce or pay off the insured balance on your loan in the event of death.

Key features may include:

• Coverage available for primary and joint borrowers
• Loan payoff coverage up to $50,000, subject to plan limits
• Helps protect family members from inheriting loan debt
• Provides peace of mind during difficult times

Coverage amounts, eligibility, and benefits vary by plan and state.

Credit Disability Insurance is designed to help make your loan payments if you become ill, injured, or disabled and are unable to work.

Key features may include:

• Monthly payment assistance after a waiting period (typically 30 days)
• Coverage for covered disabilities and illnesses
• Helps prevent missed payments and credit damage
• Supports financial stability during recovery

All benefits are subject to policy terms and conditions.

When you take out a loan, you make several important financial decisions. Protecting that loan can be just as important as selecting the right rate or term.

Payment Protection Credit Insurance may help you:

• Protect your family’s financial security
• Reduce stress during medical or personal emergencies
• Avoid loan delinquency due to income loss
• Maintain your credit standing
• Preserve long-term financial goals

1. Enroll in coverage when opening your loan
2. Continue making regular payments
3. If a covered event occurs, contact Connect Credit Union promptly
4. Claims are reviewed according to the chosen plan guidelines
5. Approved benefits are applied to your loan

Specific procedures may vary by provider and coverage type.