Credit Life & Credit Disability Insurance

Coverage for your loan obligations to safeguard your assets and your family's well-being. 

If something should happen to you, your loan obligations could potentially place a burden on your family. To cover your assets and your family’s financial well-being, consider Credit Life Insurance and Credit Disability Insurance for your next loan.1

Credit Life Insurance reduces or pays off the balance of an insured credit union loan in the event of your death. The coverage spares your family from the additional financial obligation of repaying your loan. Since credit life insurance covers a specific loan, the benefits from other life insurance plans can be used for your family's day-to-day living expenses or providing for future needs, such as a child's college education.

  • Maximum Benefit Amount – $55,000 per insured2
  • Maximum Benefit Term – 120 months
  • Age Maximum/Termination – 70

Credit Disability Insurance makes your loan payments for as long as you are unable to work due to a covered disability. The cost is reasonable, and it may help create a safety net by helping you avoid missing loan payments. The premium is built into your loan payment so there are no additional payments to setup.

  • Maximum Benefit Amount – $30,000 per insured per disability, $600 monthly maximum
  • Maximum Benefit Term – 120 months
  • Age Maximum/Termination – 66

Coverage Costs

We make Credit Life Insurance and Credit Disability Insurance coverage available to you at great low rates. Credit Disability Insurance is underwritten by CMFG Life Insurance Company.

  • Credit Life Insurance is available for $0.46 cents per $1,000 of the outstanding monthly loan balance for single coverage, and $0.74 cents per $1,000 of the outstanding monthly loan balance for joint coverage. 
  • Credit Disability Insurance is available for $1.41 cents per $1,000 of the outstanding monthly loan balance for single coverage and $2.68 per $1,000 for joint coverage.
  • A monthly premium is calculated on the declining loan balance, assuring you are only paying for the insurance you need.


Calculate Credit Life & Disability Coverage

Calculate Coverage

Apply for Coverage

It's easiest to add this insurance when you apply for your loan. For those who meet the eligibility requirements, there are no health questions. To apply for coverage on an existing loan, please stop into any branch or give us a call at 845.463.3011.

Making a Claim

Easily submit a claim online via the Member Claims Registration Portal.

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Important Legal Disclosures & Information

1Credit Life Insurance and Credit Disability Insurance are not available on first mortgages, construction loans, land loans, home equity loans and lines of credit, and all pledge of savings or certificate account loans.

2 The maximum insurable benefit for credit cards is $30,000.

Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company (Home Office: Waverly, IA), is optional to purchase 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. Base Policy Nos. CI-MP-POL, CI-SP-POL, B3a-830-0996, B3a-800-0695, B3a-800-0288, CI-MP-CE-POL; CI-MP-OE-CC-POL; CI-MP-OE-POL; B3a-800-0992.

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