MileOne Credit Insurance – Protection for your family when you need it most.
If you don’t think it can happen to you, it can. An unexpected death, disability
or loss of property could leave your family’s finances in jeopardy. Your creditor
is offering credit insurance that can help protect your family against unanticipated
debt.
Credit insurance is a value-added product that provides a monthly benefit in the
case of your disability or may pay all or part of the loan in the case of your death.
It may also repair or replace a piece of purchased or collateralized property. The
only time you may apply is at the time your loan is made. Plan now for the unexpected
and you’ll have credit insurance when you need it most.
- Credit Life Insurance – Should you or the joint debtor die (if joint life coverage
is in effect), credit life insurance coverage may pay all or part of your outstanding
loan balance in one lump sum, up to the maximum coverage amount allowed. Benefits
under each policy or certificate are first paid to your Creditor to reduce or pay
off your debt. If for any reason there are insurance proceeds will be paid as applicable
to a beneficiary you name, or, if none named, to your estate. Typically, death due
to suicide within six months of the effective date is not covered.
- Credit Disability Insurance – If you are totally disabled by accident or illness,
this insurance pays 1/30th of your regular monthly payment for each day you are
eligible for benefits, subject to a waiting period and coverage maximums.
This protection helps assure that your loved ones won’t have to pay unanticipated
bills during one of the most difficult times of their lives.