CUIS Products - Group Mortgage Protection Program

Our Group Mortgage Protection program works just like our monthly premium products; but it is designed especially for mortgage loans, which are usually larger amounts than personal loans.  There  are a few health questions your credit union member answers.

The advantage of our Group Mortgage Protection program is that it enables you to insure your loan immediately, provided you qualify. 

It is easier and often less costly for your member. No hassle, no sales person and fewer questions. And your loan is automatically insured pending the answer to those few questions.

Group Mortgage Protection:  Life Coverage

• Maximum coverage:  $500,000
• Minimum coverage:  $5,000
• Maximum term of coverage:  40 years
• Maximum issue age:  64
• Age coverage ceases:  80
• On-site maximum issuance:  $300,000
• Program pays outstanding mortgage balance plus accrued interest plus settlement interest

Group Mortgage Protection - Disability Coverage

• Life coverage is a pre-requisite for Disability Coverage
• Maximum monthly benefit:  $2,500
• Maximum term of benefits:  24 months
• Maximum term of coverage:  40 years
• Maximum issue age:  64
• Age coverage ceases: 65
• Elimination period (before benefits become payable):  60 day non-retroactive
• Program pays monthly mortgage payments

Group Mortgage Protection: Involuntary Loss of Employment Coverage

• Life coverage is a pre-requisite for Involuntary Loss of Employment Coverage
• Maximum monthly benefit:  $2,500
• Maximum term of benefits:  9 months
• Maximum term of coverage:  40 years
• Maximum issue age:  64
• Age coverage ceases: 65
• Qualification period (before benefits become payable):  60 day non-retroactive
• Program pays monthly mortgage payments for approximately nine months. This removes the added stress of mortgage payments and gives your member time to get back on their feet and to find a new job.

Group Mortgage Protection - Critical Illness Coverage

• Life coverage is a pre-requisite for Critical Illness Coverage
• Medical impairments insured:  life-threatening cancer, stroke, and heart attack
• Maximum coverage: $500,000
• Minimum coverage:  $25,000
• Maximum term of coverage: 40 years
• Maximum issue age:  55
• Age coverage ceases:  70
• Program pays outstanding mortgage balance at date of diagnosis of critical illness plus accrued interest plus settlement interest

Claim Forms

English

Initial Claim Form for Disability Benefits EP-021(34 KB)   
Supplemental Disability Claim Form EP-014(36 KB) 
Initial Claim Form for Loss of Employment Benefits EP-022(29 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) 
Formulaire de demande initiale d'indemnite pour perte d'emploi EP-022F(30 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