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Credit Life and Disability Insurance


              Description     –   In the event of death of an insured borrower, Credit Life pays off the insured portion of the loan balance.

                Coverages     –   Decreasing Term and Level Term, Single or Joint Life (co-borrowers)

Benefit Calculation  –  “Gross” (total of remaining “scheduled” payments), or “Net” (unpaid “scheduled” principal balance)

  Premium payment     –   Single premium or monthly outstanding balance.

                Exclusions     –   Suicide

Eligible Loans   –  Installment loans, single payment loans, balloon loans, and  lines-of-credit, including home equity lines.



              Description     –  When Disability results from a covered accident or illness, then the insured portion of the monthly payment will be paid for each day the borrower is unable to work.

      Waiting Periods     –  14 or 30 day, retroactive or elimination

                 Eligibility     –  Employed at least 30 hours per week;

                Exclusions     –   Pre-existing conditions
Self-inflicted injuries
Normal pregnancy and childbirth

  Premium payment     –   Single premium or monthly outstanding balance.

Eligible Loans    –     Installment loans, balloon loans and lines-of-credit, including    home equity lines.

Commissions, premium rates, age and issue guidelines vary by underwriter and plan selected.