Personal Banking

MEMBER'S CHOICE® Credit Disability and Credit Life Insurance

MEMBER'S CHOICE® Credt Insurance is voluntary insurance coverage designed to help you and your family prepare for the unforeseen - an injury, medical-related illness or an unexpected death. MEMBER'S CHOICE Credit Insurance helps pay your loan so you or your loved ones don’t have to.

How it Works:

    • You and your family won’t have to make loan payments if you’re totally disabled due to an injury or medical illness. It will help pay your loan until you’re fully recovered, or in the event of your unexpected death, it will help pay off the loan*
    • The premium is included in your monthly loan payment
    • You can cancel at any time. If you cancel within the first 30 days, you will receive a full refund
    • Once you complete the loan documents, coverage begins for eligible borrowers
    • If at any point you have questions, or if your family needs to file a claim, simply contact St. Mary's Bank
      *Per terms of your contract agreement; up to your policy maximum.

Credit Life Insurance Offered by St. Marys:

    • Maximum amount of insurance:  $100,000
    • Eligibility age maximum: 70 years
    • Insurance termination age:  70 years
    • Maximum term of insurance:  240 months

Credit Disability Insurance Offered by St. Marys:

    • Maximum amount of insurance:  $75,000
    • Eligibility age maximum:  66 years
    • Insurance termination age:  66 years
    • Monthly benefit maximum:  $1,000
    • Maximum term of insurance:  120 months
    • Benefit duration maximum:  120 months

Be sure you and your family are covered. Ask about Credit Life and Disability Insurance when you apply for a loan.

Be sure to read the Credit Insurance Application and Certificate of Insurance which will explain the exact terms, conditions, and exclusions of the policy.
Only a licensed insurance agent may provide consultation on your insurance needs. This is a voluntary insurance product. Your financing outcome is not based on your selection of this product. Claims may be filed by completing a Disability Claim Notice available at your credit union.
MEMBER’S CHOICE Credit Disability and Credit Life Insurance are underwritten by CMFG Life Insurance Company.

CDCL-0811-7864