Credit Disability and Credit Life Insurance
Credit disability is a group coverage that makes monthly loan payments up to the policy maximum should the borrower become totally disabled. Payments will continue until the borrower is no longer totally disabled, dies, or the loan is paid off.
Credit life insurance is a voluntary group coverage that reduces or pays off the loan balance, up to the policy maximum, if the borrower or covered joint borrower dies. This helps you to preserve life insurance benefits for living expenses, not for paying off debts.