Protection is one of the cornerstones of a sound financial plan. Your
credit union offers the following insurance options:
Accidental Death and Dismemberment Insurance
SJFCU provides $1,000 of Accident Insurance for members at no cost. Additional coverage is available. Ask for an application for your free $1,000 coverage.Auto Insurance
MEMBERS Auto Insurance provided by Liberty Mutual offers credit union members affordable vehicle protection for autos, motorcycles, motor homes, recreational vehicles and more.Credit Disability Insurance
Protect your family if you become temporarily disabled. A nominal premium will protect you and make your loan payments when you cannot.
Credit Life Insurance
Protects your family if you should pass away. A nominal premium will pay off your loan, not to leave behind a family burden.
Guaranteed Asset Protection (GAP)
Protects you in the event your vehicle is stolen or totaled by covering the difference between what you owe and what your insurance company will pay. Don’t wind up owing money on a vehicle you no longer have!
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Disability Income Protection
Provides income protection for credit union members who have steady employment. Protects your financial interests if you cannot work due to an accident or sickness. Select benefits from $400 to $1,500 per month.
Family Security Plan
Purchase permanent cash value life insurance for as little as $3 per week. Premiums are conveniently paid through payroll deduction.Homeowners Insurance
MEMBERS Homeowners insurance provided by Liberty Mutual offers credit union members affordable, reliable homeowner coverage for single family homes, condominiums, vacation homes and more.
Loan Protection Insurance
Protects your loans at the credit union for up to $15,000 at no direct cost to you. Excludes all real estate loans.
Member's Choice Insurance
Choose $5,000 or $10,000 coverage of term life insurance for as little as $3 or $6 per month. Premiums are conveniently deducted from your Statement Savings account.Long Term Care Insurance Now Available for Members
We are very pleased to announce the availability of a Long Term Care Insurance program for credit union members. Long Term Care Insurance is one of the most effective ways to protect your self and preserve your savings in the event of a serious illness or injury that requires extended medical or custodial care.
Not sure you need Long Term Care Insurance? Consider these facts:
- In 2002, 7 million Americans over age 65 required some type of long term care. By 2005 that number will be 9 million. And by 2020, it will rise to 12 million. (Health Insurance Association of America, 2001)
- In retirement, without long term care insurance, a couple will deplete their entire life savings in as little as 25 weeks from the date one of them becomes a resident of a long term care facility." (Committee on Aging, US House of Representatives)
- The average annual cost of care in a nursing home in 2002 was about $56,000 or $153.00 per day (AARP, 2002). By 2007, a private room will cost over $250 per day, or $94,000 per year (American Academy of Long Term Care Insurance Professionals).
Can you afford to pay these prices for care in a nursing home? Or similar costs for assisted living or home health care? Will you be forced to accept help from your family?
Long Term Care Insurance is the best protection against the burden of such costs. You can choose benefits that cover care in a nursing home or assisted living facility, or that pay for home health care - in many cases allowing you to stay in your own home.
When is the right time to buy? Because premiums are based on your age, health, and the type of plan that you purchase, many financial planners recommend that Long Term Care Insurance be purchased in your late 50s or early 60s. In this range the cost is more affordable and your health is probably still good (Long Term Care Insurance National Advisory Council, 2001).
We are making this program available to credit union members because we feel that Long Term Care Insurance is a prudent financial step. Please take the time to find out more about this important protection.
For more information about purchasing long term care insurance, call toll-free (800) 443-6003.
