Loan Payment Protection

Give yourself some peace of mind.

Taking out a loan, whether big or small, means responsibility. Sometimes, things happen in life that can make it hard to keep up with payments. That’s why we offer credit insurance? at lower rates than you might find elsewhere.

Credit insurance can cover your payments

To help you sleep easier, we offer three types of loan insurance products to meet your payment obligations. These types of coverage are available for any loan or line of credit except first mortgages, credit cards, home equity lines of credit and home equity loans.


Credit Disability Insurance for Loans

If you become disabled due to a covered accident or illness, this plan generally makes payments–up to the policy limit–on your VACU loan. You must be working for at least 25 hours a week at the time of election.

Credit Life Insurance for Loans

If you die due to a covered accident or illness before you have repaid your loan, this plan is designed to reduce or pay off your VACU loan balance–up to the policy limit.?

Credit Involuntary Unemployment Insurance for Loans

If you’re laid off or involuntarily unemployed for more than 14 days, this policy helps you cover any loan payments due.? This insurance is only available when purchased with credit life and credit disability and you must be working at least 25 hours a week at the time of election.


Credit Insurance Rates

Credit Insurance Rates
Coverage SelectedSingle Rate?Joint Rate?
Credit Life Insurance$0.059 per $100$0.097 per $100
Credit Disability Insurance$0.102 per $100

$0.168 per $100


Credit Involuntary
Unemployment Insurance
$0.063 per $100$0.102 per $100


Insurance Maximums

Insurance Maximums
Your Maximum:Credit DisabilityCredit LifeCredit Involuntary Unemployment
Monthly Total Benefit$850N/AUnlimited
Insurance Balance per Loan$70,000$70,000N/A
Age Eligible for Insurance667066


Find out if loan insurance is right for you.

Contact your loan representative for more details. Visit a branch or call us at 804-323-6800.