Loan Protection
Advance Protector Insurance
Advance Protector with CREDIT DISABILITY.
Even though all the money in the world can’t make up for the loss of a loved one, it can make a difficult situation easier.
CUNA Caribbean Insurance Society Limited (CUNA Caribbean) Advance Protector Insurance helps to reduce the debt a member’s family will have to assume at the time of his death or if a member becomes totally and permanently disabled or temporarily disabled.
Under the Advance Protector, the insurance pays the loan balance, up to the policy stated maximum, if a member becomes totally or permanently disabled or the member or a joint insured passes away before the loan is paid off.
- Advance Protector offers both single and joint insurance coverages.
- Total and Permanent Disability Insurance is included at no additional cost.
- If a member becomes totally or permanently disabled or the member or a joint insured passes away, we will pay off the principal balance of that member’s loan up to the maximum of $1,000,000.
- Advance Protector covers personal loans, auto loans and personal credit lines.
- Premium is added to the member’s monthly loan payment but the credit union is required to pay the premiums to us.
- Maximum age for a member to apply for Advance Protector Life Insurance is 75 years and minimum age is 18 years.
- Maximum age for payment of the total and permanent disability is 60 years.
- Temporary Credit Disability is also offered as a rider to the product.
The information provided above is only a brief description of the insurance coverage.
If you are not yet an owner of Advance Protector, then don’t hesitate. Get in touch with us Today to secure your loans.