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Give yourself peace of mind when you sign up for credit life and disability insurance, which provides coverage that will repay your loan if you cannot.
Here’s what the program does:
- Helps pay off your loan. Should you die, the optional life and disability insurance could pay off your loan up to $100,000*. This could help relieve your family of the financial obligation as existing insurance coverage may not cover this new debt.
- Pays if you are disabled. If you become totally disabled due to an accident or illness, your loan payments could be made for you up to $1000 per month (after a brief waiting period). The plan keeps paying for as long as you are disabled (subject to verification of your continuing disability) and can even pay off the loan*.
- Joint life coverage. The death of a spouse can cause significant economic hardship on the family. The optional joint life coverage could pay off your loan up to $100,000* should either you or your insured co-borrower die. This extra protection costs less than two separate policies.
With credit life and disability insurance added to your 3rd Fed loan, you only buy the amount of coverage you need so you save money. We make it quick and easy to get, because it is available when you make your loan. No long applications, no physical exams; just a few brief health questions**. Protection takes effect as soon as you become obligated on the loan and the premium is included in your loan payment. Available on most loan products.
Ask a Green Team loan specialist how you can benefit from credit life and disability insurance from 3rd Fed Bank.
*This coverage amount may not be available in all states. Lower limits may apply. Please refer to your certificate for the maximum benefit payable. Limitations and exclusions apply. See policy for details.
**Issuance of the policy and benefit payments may depend on the answers given and the truthfulness of those answers.
1 Credit life and disability insurance is not FDIC insured and is not guaranteed by the Bank. Coverage may loose value.
2 Credit is not conditioned on obtaining insurance.
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