Loans

Credit/Life Disability

We offer low cost credit life/credit disability on most credit union loan products. Payment is made to the credit union in addition to any other coverage you may have. Rates are low because of the credit union’s group policy and you pay as you go on the balance of your loan each month. All insurance services are optional.

  • Credit Life will pay your loan off, up to $30,000, if you unexpectedly pass. The cost is a low 6.7 cents per $100 for single coverage, and 11.7 cents per $100 for joint coverage, per month of your loan balance. You may cancel coverage at any time. Premiums are charged monthly based on your declining loan balance. To qualify for coverage, you must meet the eligibility requirements. The maximum age for coverage is 72. Please ask for the credit union’s full disclosure of benefits, exclusions and restrictions.
  • Credit Disability is an often over looked insurance coverage, however, the odds of becoming disabled during a person’s lifetime is very likely. The credit union offers a policy that can pay your monthly loan payments at the credit union if you become disabled for more than 14 days. Coverage begins on the 15th day and pays up to $36,000 total with a monthly benefit of up to $600 per loan per month. The cost is a low 15.6 cents per $100 of your monthly loan balance for single coverage and 27.3 cents per $100 for joint coverage. You may cancel coverage at any time. Premiums are charged monthly based on your declining loan balance. To qualify for coverage, you must meet the eligibility requirements and be actively at work for at least 25 hours per week. The maximum age for coverage is 67. Please ask for the credit union’s full disclosure of benefits, exclusions and restrictions.

Privacy Policy Notices, Terms, and Conditions | Copyright © 2017 Jax Metro Credit Union. All Rights Reserved.

Equal Housing LenderEqual Housing Opportunity NCUAFederally Insured by NCUA
facebook twitter pinterest