Credit Life and Disability Insurance
BFG Federal Credit Union makes available two types of credit insurance that can help ease the financial burden of your loan obligations in the event of an unexpected life event, accident or illness. Make sure you have the right coverage to help protect the financial well-being of your family and your assets, consider purchasing credit life and credit disability insurance.
- Credit life insurance is designed to help reduce or pay your eligible loan balance, up to the policy maximum, should an unexpected life event occur. A covered life event will include not only death, but also the certified diagnosis of a terminal illness and accidental dismemberment.
- Credit disability insurance may make your loan payment, up to the policy maximum, if you become totally disabled due to a covered sickness or accident.
Coverage is available for single or joint borrowers, at competitive rates, and premiums may be included with your loan payments. Knowing you're protected may help provide increased confidence in your family's financial future.
For more information on Single or Joint Credit Life and Disability, come into one of our two locations - Akron or Hudson. Or call us today at 800.306.4400.
Your purchase of MEMBER'S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Group Policy for a full explanation of the terms. CDCL-1401643.1-0116-0218