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Creditor Insurance

EVERYTHING YOU NEED TO KNOW

  • Life, Disability, Critical Illness and Loss of Employment are available;
  • Available for loans, mortgages and lines of credit;
  • Single Premium offers coverage without medical questionnaire;
  • Can be financed with various financial products;
  • Group Mortgage protection is financed monthly;
  • Insurance can be transferable; and
  • Rebates offered for early repayment.

WHAT’S IN IT FOR YOU?

    • Creditor Insurance offers you peace of mind against all possible obstacles and incidentals. It protects both your assets and your credit score;
    • Because the single premium offers coverage without a medical questionnaire, you may end up with coverage where other options would not allow for it;
    • Having protection on your loans with LVCU allows for any other insurance plans that you have in place to take care of other needs/expenses that may arise;
    • As the premiums may be financed in some cases, it offers affordable coverage paid in lower amounts over time. Our group mortgage protection is financed monthly, your premium stays the same for the duration of the loan, making it easy to budget for;
    • Coverage on a line of credit is based only on what is owed. A lower balance means a lower premium for the month;
    • If you payout your loan early, you may be eligible for a rebate, depending on the loan; and
    • You can benefit from a lower cost of borrowing in reduced interest owed due to the Credit Union’s lower risk profile.
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  • Needs to be approved by CUMIS.

© 2013 Lake View Credit Union