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Credit Disability |
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In this day and time, where nothing is cheap and even a pack of gum costs more than $0.30, is there anywhere that you can get insurance coverage for only $0.29 per $100.00 of the loan balance per month?
You bet there is!! At your credit union!!
VECU offers a low cost credit disability insurance to members who want to add it to the loan.
What does this insurance cover? If a member becomes ill and if off work for 30 days (continuous), on the 31st day, the insurance will begin to pay on whatever loans it has been placed. This insurance will pay until the doctor releases you to return to work.
There are restrictions, of course, and some paperwork to be completed to file a claim. Member must work a minimum of 25 hours per week, member can not have been diagnosed with condition or illness within 6 months prior to the insurance being issued, and the insurance will not cover any balances added to the loan after the doctor has diagnoses the condition or illness. Member can not be over the age of 66.
Ask about this insurance coverage today. Adding it to a new or an existing loan is easy and hassle-free.
Be aware that when you are on disability, the insurance company will require that you submit documents from your doctor on a monthly basis establishing the continued need for disability until you return to work. |
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