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Mortgage Protection Programs

Coverage options that help protect your home and payments if life takes an unexpected turn.

Mortgage Protection

Your home is one of your most important assets, so it makes sense to protect it. With our Mortgage Protection Programs, you can have peace of mind knowing your mortgage is protected if the unexpected occurs. Whether it’s support for your mortgage payment in the event of disability or a death benefit that helps cover your loan balance, these coverage options help protect your family and your home.

As a member of Summit Choice Credit Union, we’ll work with you to customize a mortgage protection plan with coverage and rates that fit your needs and your budget.

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An accidental death benefit provides financial protection if loss of life results from sudden, unexpected external events. Summit Choice Credit Union’s Mortgage Accidental Death coverage helps protect your home loan balance in the event of a covered accidental death.

  • No Medicals

    No health questions or physical exam required

  • Age Eligible

    Available for members under age 70

  • Flexible Coverage

    Insure the full mortgage balance or any portion of it

  • Dual Borrowers

    One or two borrowers may be covered

  • High Limit

    Coverage up to $300,000

Covered examples may include events such as accidental injury, drowning, smoke inhalation, vehicular accidents, electrocution, and other sudden incidents. Some exclusions may apply. Contact us for full details.

The 2 in 1 Life Plus plan combines limited benefit life insurance with accidental death coverage at a low cost to help protect your mortgage and your family.

Plan Benefits:

  • If death occurs due to illness, sickness, or disease:
    • Pays 24 monthly benefit payments to your mortgage lender, giving survivors time to decide next steps
  • If death occurs due to accidental causes:
    • Pays off the scheduled mortgage balance (up to $100,000)
    • Plus, pays 24 monthly benefit payments to your survivors
  • Stable Premiums

    Premium rates stay the same regardless of age

  • Borrower Eligible

    One or two borrowers are eligible

  • Second Discount

    Discounted premium for second borrower

  • Benefit Choice

    Choose benefit amount up to your full monthly mortgage payment

  • Benefit Range

    Monthly benefit up to $2,000; minimum benefit $200

  • Age Limit

    Available up to age 65

Contact us for complete plan details.

Mortgage Life Insurance pays benefits directly to Summit Choice Credit Union to pay off or reduce your loan balance in the event of your passing. If the benefit amount exceeds your loan balance, the difference can be paid to you (if living) or to your named beneficiary or estate.

  • Borrower Options

    Coverage available for single or joint borrowers

  • Coverage Limit

    Coverage options up to $300,000

  • Stable Premiums

    Premiums that do not increase with age

  • No Waiting

    No waiting period for benefits

  • Age Eligible

    Available up to age 69

Contact us for eligibility and details.

If you become totally and continuously disabled due to a covered sickness or accident, Mortgage Disability Insurance can help protect your loan payments. Once the disability waiting period is met, benefits will be paid up to the policy maximum for the duration specified in the contract, helping to keep your loan current when you need it most.

  • Loan Protection

    Helps protect your loan from default if you become disabled

  • 30-Day Start

    Coverage begins after 30 days of continuous disability

  • Benefit Limit

    Up to 12 monthly benefit payments

  • Age Range

    Eligibility for ages 18 to 66

  • Benefit Cap

    Monthly benefit up to $1,500

Some exclusions may apply; contact us for full details.