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Financial Education

Add Credit Life and Disability To Your Loans

Every member has needs and they are unique in every circumstance.  SIUCU is now offering loan protection to all of our members to give you the peace of mind you deserve.  You will be offered the product of Credit Life and Disability when applying for a loan.  Both members and their families will benefit through their loans being paid off in case of death or disability.

Members who are out of work because of disability may find themselves waiting even longer for the Social Security safety net to catch them.

In 2007, the Social Security Administration experienced a record breaking backlog of disability claims.  The average waiting period to get a hearing has reached 17 months. Having the extra protection on your loan will ease the stress during this difficult time.

Many U.S. households say they need more life insurance.  The average amount of life insurance you need is three to six times your annual income.

Your life insurance needs to:

Replace your income

Pay off your mortgage

Cover daily living expenses (food, utilities, transportation, child care)

Pay for college education for your children

Cover retirement for your spouse

Pay for funeral expenses

Pay off loans

By adding Credit Life and Disability insurance to your loan, you will have the piece of mind knowing that your obligations will be taken care of when you need it most. Stop by any branch location. We’ll be happy to discuss how Credit Life and Disability can benefit you.  For more information on insurance products offered thought CUNA Mutual Group, visit http://www.siucu.org/resources/index.htm#insurance

–Kim Babington, Vice President of Operations



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