JUST THE FACTS
JOINT CREDIT
DISABILITY INSURANCE
average long-term disability claim
31.2 The
is 31.2 months.
GenRe Disability Fact Book, 2010
number of Americans filing for personal
bankruptcy topped 1.5 million last year.
1.5 The
The Wall Street Journal: Bankruptcy Filings Leapt 9% Last
Year: January 4, 2011
are work related. The other 90% are
10% illnesses
not, meaning Workers’ Compensation doesn’t
Less than 10% of disabling accidents and
cover them.
Council for Disability Awareness, Long-Term Disability
Claims Review, 2010
RELIEF
Be sure to read the Credit Insurance Application and Credit Insurance Certificate
which will explain the exact terms, conditions, and exclusions of the policy.
Only a licensed insurance agent may provide consultation on your insurance
needs. This is a voluntary insurance product. Your financing outcome is not
based on your selection of this product. Claims may be filed by contacting your
credit union.
MEMBER’S CHOICE® Joint Credit Disability Insurance is underwritten
by CMFG Life Insurance Company.
OMS#: IM4201 ¦ MARKETING#:CDCL-1210-F69D
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THREE STEPS TO
GREATER SECURITY
I’ve always been a believer in credit disability and
credit life insurance. And when joint credit disability
became available in New Mexico, my husband and I
jumped at the chance to add it to our second mortgage.
In October of 2009, my husband fell off a ladder at work
and tore his rotator cuff and bicep. After four months
1
of trying to fix the injury with physical therapy, they
finally did an MRI and found that he needed surgery
on his shoulder. It was a total of 11 months out of work.
When we filed the joint credit disability claim, I didn’t
think they would pay it, but they did!
Now all of our other loans are covered with payment
protection. I mean, we may never need to use it again,
but at least I have peace of mind knowing that if
something happens it will help pay our loans.
2
Regina C. on Joint Credit Disability Insurance
Member of Otero Federal Credit Union, Alamogordo, NM,
August 2011
WHAT IS MEMBER’S CHOICE®
JOINT CREDIT DISABILITY
INSURANCE?
It’s a way to help protect your loan in a dual income
household. Many families live paycheck to paycheck.
What if a disability due to injury or illness were to get
in the way? MEMBER’S CHOICE Joint Credit Disability
Insurance is a way to prepare for the unexpected. It may
help pay your loan, so you or your loved one can focus on
getting better.*
HOW DOES IT WORK?
The premium is included in your monthly loan payment.
If there is a balance on your loan and either borrower
becomes totally disabled due to a covered illness or injury,
MEMBER’S CHOICE Joint Credit Disability Insurance
may help.* By taking a few simple steps while signing
your loan paperwork, you and your co-borrower are helping take responsibility for your family’s financial future.
Your loan officer can show you how. You won’t receive
extra bills or statements; everything is included in your
monthly payment.
You can cancel coverage at any time if you change
your mind. If coverage is cancelled within the first 30
days you will receive a full refund. If at any point you
have questions, or if you need to file a claim, simply
contact your credit union. Coverage is immediate for
eligible borrowers.
3
WHY IS IT VALUABLE?
You won’t have to rely on just one income to make loan
payments–MEMBER’S CHOICE Joint Credit Disability
Insurance may help to pay your loan payments while
you’re totally disabled due to a covered injury or illness.*
Some disability insurance only pays a fraction of your
salary, and that’s if you qualify. This insurance may help
close the gap. It may help you and your co-borrower use
savings for more important things while you’re unable to
work.
*Up to your policy maximums; per terms and conditions and exclusions on
your Credit Insurance Certificate.
ENROLL TODAY
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