Credit Life/Credit Disability
Valdosta Teachers' FCU offers its members Payment Protection credit life and credit disability insurance. Credit Disability insurance makes a member's payment to the credit union if the member is unable to work due to an illness or an accident. The premium is paid by the member and insures the primary borrower or the co-borrower. Credit Life insurance pays off the member's outstanding loan balance if the member dies during the term of the loan.
Payment Protection: Concerns and Benefits
If you're like most people, you've probably heard arguments against buying credit life or disability insurance. But take a closer look. Here are some reasons people think they don't need credit life and disability insurance, along with explanations of the real benefits of this coverage.
|I have other coverage.||
Payment Protection will specifically cover your credit union loan payment. That's one less worry for you.
|I'm healthy. I don't need disability insurance.||
Accidents, not poor health, are the leading cause of disabilities.
|It's too expensive.||
You can't afford not to have this protection.
|We don't need insurance. We have a dual income.||
What if something happens to you and your spouse at the same time?
|I'm just not interested.||
Please think about this...
Insurance and Warranty products are not products of the Credit Union; and are not obligations of or guaranteed by the Credit Union. Insurance or warranties may be purchased from an agent or an insurance company of the Member’s choice; and Credit Union makes no representations as to the services of any provider.