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100 Dollar Bill

Optional life & disability insurance

Help protect your family in the event of death or disability.  If something should happen to you, your loan obligations could be a burden to your family.  Consider Life and Disability Insurance on your next SVFCU auto or signature loan.  This additional insurance may pay your loan balance upon death or suffer a serious illness or injury.


  • Convenient - The cost of coverage is included in your monthly payment.
  • Pays insured monthly benefits at a time when income may be reduced and expenses higher.
  • Pays benefits even when other insurance is in force.
  • Helps reduce financial risk.
  • Helps provide security and peace of mind for you and your family.
  • Helps protect credit standing and assets.


  • Through age 64, the premium is paid on a monthly collection basis.
  • Must be actively employed 30 hours per week, two weeks prior to the loan or the effective date. It also requires a 30 day waiting period.
  • Health statements are required on all loans
  • Termination: age 65; scheduled maturity of the loan; when debt is discharged, renewed, or refinanced; when requested; or when the debt is transferred or assigned or in default.
  • Life Insurance is available as single or joint.
  • Disability Coverage: $500 maximum monthly payment, $30,000 maximum coverage, 120 months maximum term.
  • Disability Exclusions: preexisting conditions, normal pregnancy, and intentionally self inflicted injury.
  • Life Insurance Coverage: $30,000 maximum coverage and 120 months maximum term.
  • Life Insurance Exclusions: deaths resulting from suicide within 6 months from the effective date of the loan or advance.

Current Rates

Each month, the insurance premium is calculated by multiplying the outstanding principal loan balance on the last day of the billing cycle by the Rate Per Month Per $1,000 and then dividing the result by 1,000.
Credit Insurance Requested Rate Per Month Per $1,000
Life - Single Coverage $0.80
Life - Joint Coverage $1.20
Disability - Single Coverage $1.68