Payment Protection for Lines of Credit

Designed for a revolving line of credit (in some cases a fixed-term loan), this coverage will protect you in case of accident, sickness, diagnosis of a critical illness or death. Your premium is paid monthly and is based on the average daily balance of the prior month.

Life

As a credit union member, this coverage pays your insured outstanding loan balance to a maximum of $500,000*.

* Coverage is available to age 70. If you apply for coverage prior to age 65, the maximum coverage is $500,000. If you apply for coverage after your turn 65, the maximum coverage is $100,000. Coverage ends at age 70.

Disability

CUMIS Insurance pays 3% of your insurable balance, up to $3,000 for a maximum of 60 months (per claim) up to and including age 64 if you become disabled due to a sickness or accident and cannot work. 

Critical Illness

CUMIS Insurance will pay off your insurable line of credit loan balance upon diagnosis of a critical illness to a maximum of $500,000*.

Coverage is available to purchase up to age 55 and ends when you turn 70. 
 
* Subject to the conditions of your policy. Talk to a CUMIS Insurance representative for more information.

Please click here for claims forms you can download and print.