Coverage designed to protect the borrower and his or her estate from the financial burden which may result from a borrower’s death.  Credit Life pays a benefit to reduce or eliminate a borrower’s unpaid debt in the event of his/her death.

What are the benefits?

  • Peace of mind.  Credit Life Insurance gives you peace of mind knowing that, in the event of your death, your debt will not be passed along to your heirs or estate.

  • 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.

  • Coverage tailored to your loan amount. Coverage amount is specific to your new debt obligation.

  • 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 Life Insurance up to the age of 65 (66 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 Life Insurance?

You may apply for Credit Life coverage at the time of your loan application. Your insurance becomes effective as soon as your loan is finalized. 

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 life insurance is available.

No obligation for 30 days

When you apply for Credit Life Insurance, you have a 30 day Free Look period following receipt of your insurance certificate to review your Credit Life 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.

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:

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.


Depending on your state, suicide may be excluded from coverage for up to 2 years.

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