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Protect yourself and your family in the case of an unexpected disability of death. Credit Life and Credit Disability Insurance can be purchased on all vehicle and personal loans. Credit Disability is optional, will not affect your eligibility for a loan, and can be cancelled at any time. Full documents will be provided when coverage begins.

Credit Disability Insurance
Credit Disability Insurance pays a monthly benefit of up to $600 toward the monthly payment on the loan if the primary borrower is totally disabled for more than 30 days.

Eligibility: You are not eligible for disability insurance after your 70th birthday. Your co-borrower is not eligible for disability insurance. Each loan advance is covered by disability insurance only if you are working for wages or profit at least 30 hours per week on the date that you make the advance. If you are not, that particular advance will not be covered until you return to work. You are insured only for advances actually taken. You are not insured for any unused credit which may be available to you.

Coverage: Disability insurance may not cover conditions for which you have seen a doctor or chiropractor in the last six months. Refer to “WHAT WE WON’T PAY” in your Certificate of Insurance for details. The maximum monthly benefit is $600. This may not be enough to cover your full monthly payment. No payment is made for the first 30 days of the disability and there is no retroactive disability benefit.

Credit Life Insurance
Credit Life Insurance pays off the outstanding loan balance, up to $30,000, in the event of the death of one of the borrowers. Single Credit Life covers the life of the primary borrower. Joint Credit Life covers the life of both the primary borrower and the co-borrower.

Eligibility: Neither you nor your co-borrower are eligible for life insurance after your 70th birthday. On open-end loans, the insurance will stop when you reach age 70.

Coverage: Maximum Life insurance coverage for all outstanding loans is $30,000.

Insurance Cost
At the end of each month, the insurance premium is calculated by multiplying the unpaid loan balance by the monthly premium rate shown below (example: credit disability premium=$2.53 per $1,000). If the rate changes, we will notify you in advance. A new rate will apply only to premiums calculated after the date of the rate change.

Primary Borrower
Credit Life Only--$.068 per $1,000
Credit Disability Only--$2.53 per $1,000
Credit Life and Disability --$3.21 per $1,000

Both Borrowers
Credit Life Only--$1.16 per $1,000