Coverage to protect a borrower from the financial burden which may result from total disability.  Pays a monthly benefit to reduce or replace a debtor’s monthly payment in the event of his/her total disability.

What are the benefits?

  • Peace of mind.  Credit Disability Insurance gives you peace of mind knowing that your payments will be covered in the event that you become totally disabled and unable to work.

  • Reasonable premiums. Rates vary from state to state and the actual cost of your particular coverage depends on where you live, your loan amount, and the coverage selected. Please contact your financial institution for specific rate information.

  • Convenient. Application is easy and usually done at time of loan application. And, your one time premium may be conveniently included in your loan amount.

  • Simplified eligibility. Age restrictions vary from state to state; however, you can obtain Credit Disability Insurance up to the age of 65 (64 in NV). Also, a medical exam is not required although simple underwriting questions may be asked for larger amounts of coverage.

When can I apply for Credit Disability Insurance?

You may apply for Credit Disability coverage at the time of your loan application. Your insurance becomes effective as soon as your loan is finalized. This insurance has a 14 day waiting period that must be satisfied before you are eligible for Credit Disability benefits. Consult your policy for details.

No obligation for 30 days

When you apply for Credit Disability Insurance, you have a 30 day Free Look period following receipt of your insurance certificate to review your Credit Disability plan and make sure it meets your expectations. If, during this period, you decide you don’t want the coverage, you can cancel it without obligation and any premiums paid will be refunded.

Is joint coverage available?

If both you and your co-debtor are named on the loan application, check with your financial institution to see if joint credit disability insurance is available.

How long does it take to process a claim?

Unless your claim requires additional information, your claim is generally processed within 10 days after receipt of all required information. Once processed, the claim benefit amount will be credited to your loan.

How do I file a claim?

Upon the occurrence of a covered event, contact your loan representative at your financial institution if you become disabled. Your loan representative will complete the loan information on our claim form and send it to you with instructions on how to complete the remainder of the form. You can return the completed form and any supporting documents to your financial institution (recommended approach) or mail directly to the insurance company address listed on the claim form.

Who underwrites the coverage?

Insurance is underwritten by Plateau Insurance Company, a member company of The Plateau Group.  Plateau Insurance Company is highly rated by the major independent rating agencies that analyze the financial soundness and claims-paying ability of insurance companies. For more information about the rating agencies and to see where Plateau Insurance Company ranks relative to other companies, please visit our website at:


Depending on your state of residence, Credit Disability Insurance will not cover loss resulting from:

  • Normal pregnancy
  • Pre-existing condition that the borrower has been treated for in the 6 months prior to the loan agreement.
  • Intentionally self-inflicted injury

Disclosure: For complete details please see Benefits, Limitations and Exclusions in the insurance policy.