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Credit Life Insurance

Credit Life Insurance coverage reduces or pays off insured members' loans if they die before the loan is repaid. 

Credit Life Insurance should be a part of your financial plan. Families that rely on two incomes can be financially devastated by an unplanned death. It puts collateral at risk and could devastate a carefully nurtured credit history.
Here are some rock solid benefits Credit Life Insurance can offer members:

  • Reduces or pays off loan balance if member dies before loan is paid off
  • Helps protect credit rating and collateral
  • Lessens burden on survivors
  • Simple, easy enrollment with no medical exam requirement
  • Premium is included with loan payment
  • Guaranteed issue to members up to age 70


  • Single or joint coverage

Several consumer groups and business publications have recognized Credit Life Insurance, underwritten by CUNA Mutual Insurance Society as an outstanding consumer value. Here's why:

  • CUNA Mutual Insurance Society provides Credit Life Insurance exclusively to credit unions and is the top provider of this coverage in America today. We're also one of the few credit insurers that consistently exceeds the 60% minimum payout ratio necessary to earn the recommendation of the Consumer Federation of America and the U.S. Public Interest Research Groups.

Q. Can I change my mind at a later time about if I want to cancel/add insurance?
A. Yes, premiums & coverage can be stopped at any time. If you want to add insurance at a later date you may be required to complete a statement of insurability.

Q. What is the maximum loan size I can insure?
A. The current maximum is $60,000.

Q. How much does this insurance cost?
A. Premiums are $.10 per $100 of coverage per month for single credit life & just $.165 per $100 of coverage per month for joint credit life (typically our premiums are 30-40% less than non-credit union lenders).

Q. How much insurance do I need?
A. That really depends on individual circumstances. You should consult with a professional advisor to help you review your needs.

Copyright 2010 CUNA Mutual Insurance Society