Purchase insurance protection and have the peace of mind in knowing that your credit union Personal Loan obligations can be reduced or eliminated when needed.

The protection available includes:

  • life insurance which pays the outstanding loan balance.
  • disability insurance that makes the monthly payments; or
  • a combination of disability and life insurance.
  • Available for all joint parties and guarantors or co-signers
  • Premiums are added to the borrowed amount
  • Protects credit rating and security
  • Flexible choice of single or joint coverage
  • Convenient with benefits paid directly to Évangéline-Central Credit Union on owners behalf


Credit Life Insurance


  • Maximum Coverage        $90,000.00
  • Maximum Term               120 months
  • Minimum Age                  19
  • Maximum Age                  69
  • Available to age 69 - expires on 71st birthday
  • All borrowers under age 70 qualify


Pre-Existing Conditions 

  • Loans with balances $10,000 or less pre-existing conditions are covered with no exclusions
  • Loans with balances greater than $10,000 are not covered if death occurs within first six months from loan date and results from a pre-existing condition. Death from other causes are covered. Pre-existing conditions are covered after six months.


Credit Disability Insurance


  • Maximum Monthly Coverage        $1000.00
  • Minimum Age                                19
  • Maximum Age                               59
  • Elimination Period                          60 Days
  • Maximum Benefits                         120 Months
  • Qualify prior to 60th birthday and only covered to your 65th birthday
  • Temporary or permanent disability
  • Must be working a minimum of 20 hours a week or for seasonal workers, capable of working
  • Maximum coverage is for all loans combined
  • Can be added at time of loan application or within first 60 days by paying premium in full