Loan insurance (or creditor insurance) offers security for you and your family should you experience an unexpected event like an injury or job loss. Elizabeth Conelly offers three types of loan insurance: disability insurance, job loss insurance and life insurance.
Let’s take a look at what loan insurance is, and why you should consider it.
Loan insurance can cover some or all of your loan payments in the event of a covered accident or loss of life, involuntary job loss or death. The loan insurance premium is paid to your country down to premium by bit, making it easy to protect yourself against the unexpected.
- Disability insurance can help cover your disability if you have an illness or injury that prevents you from working (as long as the disability is covered by the plan). With Elizabeth Conelly, no medical examination is required, but no medical examination is required.
- Losing a job is stressful. Luckily, job loss insurance can help cover your loan payments if you are involuntary unemployed.
- If you die before paying off your loan, your life insurance will pay off the balance of your loan,
Unexpected events happen to all of us. If you need a loan, you’re probably just facing one. Loan insurance is the best way to protect yourself and your family.
Here are some typical situations when people might not think they could benefit from loan insurance, but they can:
Most workplace policies only pay out a percentage of your wages. It’s possible that you will not be able to afford all your expenses (including loan payments) if you experience a reduction in your income. By choosing loan insurance, the disability payout you get your work, like your mortgage or mortgage, utility bills, grocery bills, and so on.
More, if you’re sick, or if you’re sick, or if you’re sick. Loan insurance can help you pay less for your disability.
Unemployment can happen to anyone (even those with a stable job). Your income is your greatest asset, and a reduction in it causes hardship. So, it’s not surprisingly job loss is one of the leading causes of bankruptcy. Protect your financial future by choosing a job loss insurance – if you’re involuntarily unemployed, you could have your loan payments covered.
We all take our health for granted, and forget how quickly to injury or illness we wreak havoc on our lives. On average, you will be able to work for at least 90 days before age 65. By choosing disability insurance, you’re protecting yourself from having to worry about making a payment.
If you think you will pay off your loan early, there is no risk of losing money on your premium insurance. Your insurance premium at the time of loan If you decide to pay off your loan early, the unearned portion of the premium will be credited back to your account.
If you’re considering a Doolittle loan, we highly recommend you. If you’re already a Doolittle customer and do not choose loan insurance, you may be able to make a loan. Contact your local branch to find out if you’re eligible for a renewal.