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Protect what you've put your heart into.


Protect what you've put
​your heart into.

 

Click to expand and read more about each of our insurance products.

For specific costs and complete details, please call 1-888-963-2000.

Group Mortgage Protection

Your property for business is a big investment. Make sure it can withstand the unexpected. Our Group Mortgage Protection (GMP) is a monthly premium product that will protect your assets for business for the term of your mortgage if life interrupts your well-laid plans.

Life Coverage

Protect your loved ones and your assets in the wake of an unforeseen death, with up to $1,000,000 of coverage for a maximum of 35 years. Use these funds to pay the outstanding balance of your insured mortgage, plus accrued and settlement interest. Coverage can be purchased any time before age 69 when you answer health questions, and ceases at age 75.

Additional coverage options

With life coverage, you have the option to purchase additional riders including disability, loss of employment and critical illness coverage.

Disability Coverage
Critical Illness Coverage

Protect yourself from having to spend your savings, cash out your retirement plan, or reduce your family's standard of living in the event that you become disabled. With disability coverage, you’ll receive a benefit of up to $3,000 per month (to a maximum total benefit payable of $72,000), to apply to the outstanding balance of your insured mortgage for a maximum of 24 months (per claim)*. 

Members can enroll up to age 69 and coverage ceases at age 75. This product is designed to cover your insured monthly mortgage payment. The waiting period before your benefits become payable is 60 days.

*Must have 20 hours/week for two consecutive weeks prior to Requested Effective Date of insurance.

If you or someone you love is diagnosed with a life-threatening illness, you’ll have enough to worry about. Critical illness coverage relieves you of the stress of paying your mortgage, so you can focus on what really matters. It protects the outstanding balance of your insured mortgage, up to $1,000,000, for a maximum of 35 years, and pays the outstanding balance of your insured mortgage at the date of critical illness diagnosis, plus accrued and settlement interest. 

Members can enroll up to age 59 and coverage ceases at age 75. Additional health questions will be asked during the application process.

*Cumis will not pay a critical illness benefit for a diagnosis of cancer if you had any cancer at any time before the Effective Date of Insurance.

Payment protection for lines of credit – monthly premium

Critical illnesses, accidents, and unexpected deaths can leave you or your loved ones with unplanned debt. Payment protection gives you peace of mind knowing your business, and your assets, are covered.

Life coverage

In the event of a tragedy, having life coverage on your line of credit means that the outstanding balance of your insured debt, plus accrued interest, will be paid. Get coverage up to $1,000,000 if you enroll before age 65, or coverage up to $100,000 if you enroll between 65 and 69. The maximum issue age is 69 and coverage ceases at age 75.

Additional coverage options

With life coverage, you have the option to purchase additional riders including disability and critical illness coverage.

Disability Coverage
Critical Illness

If you become disabled unexpectedly, disability coverage can help. It covers three percent of the outstanding balance of your insured line of credit, up to a maximum of $3,000 per month, to a maximum of 60 months (or cumulative total benefit of $180,000). 

Members can enroll up to age 69 and coverage ceases at age 75.

*Must have 20 hours/week for two consecutive weeks prior to Requested Effective Date of insurance.

If you are diagnosed with cancer, or suffer a stroke or heart attack, Critical Illness Insurance will provide you with up to $1,000,000 of coverage to repay the balance of your outstanding insured debt plus accrued interest. 

Members can enroll up to age 59 and coverage ceases at age 75.

*Cumis will not pay a critical illness benefit for a diagnosis of cancer if you had any cancer at any time before the Effective Date of Insurance.

Payment protection for loans – single premium

Single premium products are designed for business, fixed-term loans. The premium is included in your loan payment.

Life coverage

With life coverage on your personal loan with a fixed-term of repayment, your business will be financially protected with up to $90,000 of insurance for a maximum term of 15 years. This coverage pays the outstanding balance of your insured loan, plus accrued and settlement interest if you unexpectedly pass away. 

Members can enroll up to age 69 and coverage ceases at age 75.

Additional coverage options

With life coverage, you have the option to purchase additional riders including disability, loss of employment and critical illness coverage.

Disability Coverage
Critical Illness Coverage

Disability coverage on your personal loan provides peace of mind in the event of an accident. If you become disabled, you’ll receive a monthly benefit of up to $1,500 for a maximum of 72 months to help cover the cost of your loan payment. 

Members can enroll up to age 69 and coverage ceases at age 75.

*Must have 20 hours/week for two consecutive weeks prior to Requested Effective Date of insurance.

If you’re diagnosed with cancer, or suffer a stroke or heart attack, Critical Illness Insurance will provide you with up to $90,000 of coverage for a maximum term of 15 years. 

Members can enroll up to age 59 and coverage ceases at age 75.

*Cumis will not pay a critical illness benefit for a diagnosis of cancer if you had any cancer at any time before the Effective Date of Insurance.

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In Canada, Credit Insurance is underwritten by Life Investors Insurance Company of America (Head Office - Toronto, ON) and is available to credit union member's only. These coverages are only available through CRI Canada in Canada. All products may not be available in all provinces.
The CRI Canada name is used under a license issued by Creditor Resources, Inc. CRI Canada is a marketing name attributed to the group insurance business underwritten by Life Investors Insurance Company of America and insurance-related products licensed through Creditor Resources, Inc. 

Loan Protection coverage is optional and is underwritten and provided by CUMIS Life Insurance Company. Coverage is governed by the terms and conditions of the creditor group insurance policy issued to the creditor and is subject to terms, conditions, exclusions and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details.