Credit Life
Credit life pays off or reduces the loan in the event of the covered borrower's death. Actual benefits depend on the options selected.

Options

• Gross Pay Decreasing Life

• Net Pay Decreasing Life

• Truncated Net Pay Decreasing Life

• Level Life

 

Credit Disability
Credit disability pays the scheduled loan payment or a portion of it, if the covered borrower becomes totally disabled due to a covered accident or illness. CSO pays benefits to the financial institution that holds the loan.

Options

• Full Term Disability

• Critical Period Disability

Credit life and disability insurance products vary by state and may be available in single or joint coverage.