Taking out a loan means one of your dreams is about to come true – maybe a new car or boat. But what happens to your dream when the unexpected hits? How can you make sure you or your family won't shoulder the financial burden of making loan payments when you can't?
Credit Life/Credit Disability Insurance cancels your eligible MICU loan up to the agreed maximum should you die before paying it off. In addition, if you become disabled due to a covered illness or injury, or become involuntarily unemployed, this optional loan protection coverage can cancel your monthly loan payment up to the agreed maximum.
For just pennies a day, you can purchase the exact amount of coverage you need. The next time you apply for a MICU auto or consumer loan, or credit card, ask your MICU lending specialist for a quote.
Credit Life / Credit Disability insurance may not cover an advance or charge from your credit line if death or disability results from a condition for which you have been treated by a doctor within the six months preceding the advance or charge.