What would happen to you and your family if you become sick or hurt and cannot work? What about if you are laid off? What would your family do if you were to pass away unexpectedly? You and your family’s obligation to repay a loan would continue. Will you or your family be able to accomplish this? Do you currently have adequate insurance to take care of these obligations? We offer various credit insurance products to provide peace of mind and to protect you and your family from unexpected events. Credit insurance provides real financial protection and peace of mind.
Citizens currently offers the following insurance products*:
- Credit Life Insurance
- Credit Accident & Health (disability) Insurance
- Accidental Death, Dismemberment & Loss of Sight Benefit (AD&D)
- Credit Personal Property Insurance
- Involuntary Unemployment Insurance (IUI)
- Vehicle Single Interest Insurance (VSI)
CREDIT LIFE INSURANCE
Credit life insurance provides you the ability to pay off a loan in the event of your death. Often with the death of the primary wage earner the other family members cannot afford to make the payments on a loan and may lose the property pledged as collateral. Credit life insurance provides assurance that the burden of repaying a loan is not left to the surviving family members. It insures that an automobile, boat, house, etc. will not be lost due to the death of the primary wage earner.
ACCIDENT & HEALTH DISABILITY INSURANCE (A&H)
Disability insurance provides assurance that the monthly loan payments will be paid in the event you are unable to work due to an accident or health problem. Our current disability coverage has a 7-day waiting period with retroactive benefits. This means the insured must have been disabled for 7 days before the insurance will pay any benefits. If the insured is disabled for at least 7 days, the insurance will pay benefits from the date of disability.
ACCIDENTENTAL DEATH, DISMEMBERMENT & LOSS OF SIGHT BENEFIT (AD&D)
In the event a borrower is killed, loses a limb, suffers blindness, or becomes paralyzed by a covered accident, Accidental Death and Dismemberment Insurance, or AD&D Insurance, can provide benefits if death or injuries occur that are proven to be the direct result of a covered accident. (Only available at our Fort Oglethorpe, GA location).
INVOLUNTARY UNEMPLOYMENT INSURANCE (IUI)
Involuntary unemployment insurance will pay your monthly loan payment if you become involuntarily unemployed. IUI gives you assurance that your loan payment will be paid in the unforeseen event you lose your job and income. This coverage does not provide any benefit if the customer is unable to work due to an accident or health issue as is provided by A&H insurance.
CREDIT PERSONAL PROPERTY DUAL INTEREST INSURANCE (CPI)
In the event you do not have homeowner’s or renter’s insurance that covers your personal property pledged as collateral for a loan, we can provide credit personal property (fire) insurance to cover the loss of personal property pledged as collateral. This policy does not cover automobiles or other similar vehicles.
VEHICLE SINGLE INTEREST INSURANCE (VSI)
In the event you do not have automobile insurance that adequately covers the vehicle pledged as collateral for a loan, we offer vehicle single interest insurance (VSI) that protects the lender only for loss or damage to the insured collateral. This can be used to obtain the insurance required for most of our auto loans.
*All of our credit insurance products are provided by The Plateau Group. Inc.