Credit Life & Disability Insurance
MEMBER’S CHOICE® Credit Life and Disability Insurance may help protect your Credit Union loan if the unexpected were to occur. Armco CU offers this optional coverage on most loan products, except mortgages, and for a reasonable cost, you and your family may be protected in the event of a serious accident or death.
Life – People may not increase their life insurance when starting a new loan. Credit Life Insurance is designed to help pay off or reduce a loan’s principal balance upon the death of the insured borrower, up to coverage maximums.
Disability – If you become totally disabled due to a covered injury or illness, Credit Disability may assist in making your loan payments, up to policy maximum. This insurance is designed to help make monthly loan payments when an insured borrower is totally disabled for longer than the waiting period, so you and your loved ones don’t have to.
Talk to a member of our friendly staff for more information on Credit Life and Credit Disability Insurance.
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-2683613.1-0819-0921