Features of the Advance Protector Insurance Plan
This plan provides:
- Insurance coverage on loan up to a maximum of one million dollars ($1M)
- This insurance offers both single and joint coverage – you and your partner / co -maker are eligible for joint coverage.
- Insurance coverage goes up to age 75 years
- Coverage also offers Total & Permanent disability at no additional cost. Should you or your joint borrower become totally and permanently disabled your loan will be repaid up to $1M.
And the best thing is you don’t need a medical report.
Your Benefits:
- Live with financial freedom knowing your family will not be left in debt in the event of your death
- This plan offers both single and joint coverage – you and your partner / co -maker are eligible for joint coverage. Should one of you pass away your loan will be repaid up to a maximum of one million dollars.
- Approval is easy
- Your loan will be repaid in full up to $1M in the event of death or total & permanent disability
Click here to view our Advance Protector Brochure
CUNA Advance Protector Plan
Frequently Asked Questions
The AP covers the primary borrower as well as the joint borrower/Co maker.
All loan types with the exception of mortgage loans.
The cost of coverage is as little as $0.63 per $1,000.00 of the loan.
You will become eligible for coverage under this plan by completing the application for AP at the time of applying for a loan.
Coverage under the AP goes up to age 75 Years.
Your loan will be insured for up to maximum of $1M.
No, this insurance covers the loan in the event of your death, the beneficiary of your VENTURE account will have a claim on your shares.
Once you have joint coverage, and one member dies , the loan will be repaid up to $1M
The monthly insurance premium will be added to your salary deduction.
In the event that you repay your loan early, the insurance would cease.
Credit Disability is an added benefit of the AP at no additional cost. Should you become totally and permanently disable (eg a vehicle accident or a medical incident) the loan will be repaid in full up to a maximum of $1M
You become eligible for total and permanent benefits 6 months after you are diagnosed permanent or total disability. However, the payment will be retroactive from the time you are medically declared totally and permanently disable.
The maximum age for coverage under this benefit is 60 years.
Temporary disability is offered as a rider to the AP and carries a separate premium. A claim can be made after one month of temporary disability. CUNA will make monthly payments to your loan for a maximum period of two years or for the period of disability.