Line of Credit Payment Protection

If you have a revolving Line of Credit with ACU, this coverage will protect you in the event of total disability, diagnosis of a critical illness, or death. Your premium is paid monthly and is based on the previous month's average daily balance.

Line of Credit Payment Protection can provide (upon claim approval):

Life coverage: should you die, your coverage pays the outstanding balance of your insured line of credit to a maximum of $1,000,000 plus accrued and settlement interest.

Disability coverage: if you become totally disabled through sickness or accident, a monthly benefit to a maximum of $3,000 for up to 60 months per claim will be paid.  

Critical Illness coverage: if you are diagnosed with a covered critical illness, your coverage pays the outstanding balance of your insured line of credit to a maximum of $1,000,000 plus accrued and settlement interest. The maximum eligibility age for critical illness coverage is 59; coverage ends when you turn 75.

NOTE: If you apply for coverage before you turn 65, the maximum coverage is $1,000,000. If you apply for coverage after turn 65 (only life and disability coverage available), the maximum coverage is $100,000. Coverage ends at age 75.

See Policy for full coverage details, including restrictions.

 

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