CUIS Products - Monthly Premium Credit Life and Disability Programs

Our portfolio of Monthly Premium Credit Life and Disability products insures revolving loans or fixed term loans. Premiums are paid monthly, based on the average outstanding loan balance and your member’s age. 

As with our single premium products, in the event of tragedy, our monthly premium programs either makes the monthly loan payment to your credit union on behalf of your member or repays your credit union the balance of the loan.

Monthly Premium Credit Life Coverage

• Maximum coverage:  $500,000 (application prior to age 65)
• Maximum coverage:  $100,000 (application age 65 through 69)
• Maximum issue age:  69
• Age coverage ceases:  70
• Program pays outstanding loan balance

Monthly Premium Credit Disability Coverage

• Maximum monthly benefit:  $3,000
• Maximum term of benefits:  60 months
• Maximum issue age:  59
• Age coverage ceases:  65
• Elimination period (before benefits become payable):  30-day or 60-day non-retroactive
• Program pays 3 per cent of outstanding loan balance at date of disability or pays monthly loan payments on fixed term loans

Claim Forms

English

Initial Claim Form for Disability Benefits EP-021(34 KB)  
Supplemental Disability Claim Form EP-014(36 KB) 
Proof of Death - Physician's Statement EP-012(27 KB) 
Authorization for the Release of Information EP-047(25 KB) 
Credit Insurance Life Claim Form EP-029(29 KB) 

Français

Formulaire initial de demande d'indemnite pour invalidite EP-021F(34 KB) 
Formulaire de demande d'indemnite supplementaire EP-014F(37 KB) 
Preuve de deces - declaration du medecin EP-012F(27 KB) 
Autorisation de communiquer des renseignements EP-047F(25 KB)
Formulaire de demande d'indemnite d'assurance-vie de credit EP-029F(29 KB)  

Interested? 

If you would like more information on how any of our products and services can help protect your credit union and your members, call our Customer Contact Centre.

Credit union employees call: 1 (877) 564-2847

Credit union members call: 1 (800) 263-9120

Monday to Friday, 8:00 a.m. – 8:00 p.m., Eastern Time.

E-mail: Customer Contact Centre /customer.service@cumis.com