CUNA life assurance Company may be a division of the CUNA Mutual Group, which offers a spread of monetary and insurance services to credit unions and to individuals. The CUNA Mutual Group currently holds about 15.26 billion in assets and employs around 5,500 members. The life assurance division of the corporate offers two sorts of insurance- Whole Life and Term. All policies are underwritten by CUNA Mutual Insurance Society which may be a Fortune 100 company and has received an AA- rating for claims paying ability.

CUNA Whole life assurance

If you're a member of the CUNA Mutual Group, you and your spouse can qualify for all times insurance without the effort getting a physical exam during the appliance process. Other advantages are that your benefit amounts are bound to remain an equivalent as are your premium payments; the death benefits are tax free; and a member spouse can buy a policy albeit the member doesn't have one.

A life assurance policy with CUNA provides your family with future financial security. like all permanent life assurance policies cash value accumulates as you remit premium payments. As a policy holder, you've got the power to borrow against the buildup in your cash value should the necessity ever arise. CUNA life assurance doesn't require the insured or the beneficiary to pay back the loan. If the insured member dies the benefit payment would be reduced by the loan value, or within the event that you simply cashed in your policy, the loan amount would just be subtracted from your payout.

CUNA Supplemental Benefits

CUNA life assurance Company also offers a good selection of supplemental benefits that you simply can buy along side your main life assurance policy. Their waver of premium benefit must be purchased before the insured reaches sixty. it'll provide a waiver of any premiums due (until age 100) if the insured is completely disabled before the age of sixty. If the insured is completely disabled after the age of sixty, it'll provide a waiver of advantages until the insured reaches the age of sixty-five.

CUNA's accidental benefit rider allows a further payout if the insured dies from an accidental bodily injury. The amounts vary in accordance with the age of the insured and can reach at 150,000. This rider isn't available for any insured over the age of seventy.

The guaranteed insurability rider offered by CUNA provides that the insured are going to be eligible to get additional insurance benefits on specified anniversary dates, without providing proof of insurability up to the age of thirty-seven. To exercise the advantages provided by this feature the insured must have also purchased a waiver of premium rider.

CUNA life insurance's children's rider insures the lives of the policy holder's children up to the age of twenty-three. to get this rider the parent can't be over the age of fifty, and therefore the covered child cannot have reached the age of seventeen. the utmost benefit payable under this rider would be ten thousand dollars. When the insured child reaches the age of 23 the rider will convert to a permanent life assurance policy and no proof of insurability are going to be required by the kid . within the event that the parent dies before the kid reaches the age of 23, then the rider will convert to a paid fully term policy which will remain in effect until the kid reaches the age of 23.

Unlike their insurance offerings, CUNA's whole life assurance will cover you until you reach the age of 100. At now the whole face amount of the policy would be paid to the insured. Death benefits are paid to the named beneficiary within the event of the insured's death. Your premium amounts will remain level for the policy's lifetime. If at any time you would like to review the terms and conditions of the life assurance policy you'll call their toll free number and a 1 page summary are going to be mailed to you. CUNA also makes changing your beneficiary an easy task, all you've got to try to to is call their customer service number and request a form.

CUNA Term life assurance

CUNA also provides insurance to hide your family for a specified period of your time only. there's no accumulation of money value, however all death benefits are tax free. CUNA's insurance is meant to supply protection of your family's assets at the varied stages of your life. These policies are usually purchased during the days that children are in college, when new mortgages are assumed, or during any time when your family faces an outsized amount of debt within the event of your death.

CUNA offers term policies certain level premium terms of 10, 15, 20 or 30 years. Level premium means your premiums will remain an equivalent for the lifetime of the policy. The minimum amount of coverage available is 25,000 and therefore the maximum amount is a million . CUNA will allow these policies to convert over to permanent life assurance policies as long because the conversion is completed before the top of the term or before the insured reaches the age of seventy.

There are two riders which will be purchased together with your level insurance . the primary is their other insured rider, which allows you to insured up to 9 people under your policy with no additional policy fee being charged. subsequent is that the waiver of premium rider which can waive premium payments for the rest of the term if the insured is total disabled and has not reached the age of sixty. If the insured has reached the age of sixty, then the premium amounts are going to be waived until the insured reaches the age of sixty-five.

CUNA life assurance offers its members strong support for its big variety of life assurance policy options. you'll rest assured that within the event of your death your family is well provided for.

Of course, CUNA isn't the sole life assurance company that would potentially meet your family's needs so make certain and go searching before you buy . start comparing life assurance quotes now!