Life can take unexpected turns, and when it does, your financial commitments shouldn’t become a burden. That’s why MMCCU is proud to offer Credit Life and Disability Insurance for your mortgage loan through Plateau Insurance Company. This new product provides peace of mind, ensuring that your mortgage is covered even in the face of difficult life events.
What is Credit Life and Disability Insurance?
At its core, credit life and disability insurance is designed to protect your mortgage. If you were to pass away unexpectedly, Credit Life Insurance would pay off the remaining balance of your mortgage loan. For families, this means one less thing to worry about during an already challenging time.
In the event of a disability, this policy can cover your mortgage payments—up to $3,000 per month—for up to a year. This is especially valuable when faced with a short-term disability that disrupts your income. You won’t need to worry about how to make your mortgage payments; instead, you can focus on recovery.
Even if you have life or disability insurance through your employer, MMCCU’s offering stands out.
Jerry Litwaitis, VP of Lending at MMCCU, explains: “This insurance specifically covers your mortgage, meaning you don’t have to use your life insurance or disability benefits to make your mortgage payments. You can reserve those funds for other expenses.” In other words, this policy provides an added layer of security so that your family’s financial well-being remains intact.
Why Choose MMCCU for Your Mortgage?
MMCCU offers more than just a mortgage—it offers peace of mind. With Credit Life and Disability Insurance, you gain additional protection tailored to one of your biggest financial commitments. While you might have other life or disability coverage in place, this insurance is specifically designed to ensure that your mortgage remains paid, no matter what life throws your way.
If you’re wondering whether you need it, consider this: even with a strong life insurance policy or short-term disability coverage from your employer, having mortgage-specific insurance can make all the difference. As Jerry Litwaitis points out, “If something happens, this insurance ensures your mortgage is taken care of, allowing your other benefits to remain untouched for other needs.”
Not only is the coverage comprehensive, but MMCCU also makes the process convenient. If the coverage amount exceeds certain limits, a paramedical examination may be required. However, this is completely free to MMCCU members, and it can even be done in the comfort of your home. That’s the level of service and convenience you can expect through MMCCU.
Is This Insurance Right for You?
Whether or not you already have life or disability insurance, this product can offer another layer of financial security. If you want to ensure that your mortgage is protected—without relying on other benefits—Credit Life and Disability Insurance may be the right fit for you.
To find out more about this new offering and how it fits into your financial plan, contact Jerry Litwaitis or Shelly Hughes at Marshfield Medical Center Credit Union today.
