Creditor Insurance

Stoughton Credit Union works with CUMIS, a Division of Co-operators Life Insurance Company, to offer our members insurance benefits on their loans & mortgages. Including these insurances when borrowing will ensure peace of mind knowing your loans will not be a burden to loved ones. Our lending team is here to answer any questions you may have and can provide you with more detailed information. Set up your appointment with them today!

Loan & Line of Credit Insurance

Mortgage Insurance

Life Insurance

This pays out the outstanding insured balance of your loan upon your death.

Critical Illness Insurance

This insurance pays the outstanding insured balance of your loan if you are diagnosed with a critical illness.

Disability Insurance

This will pay your insured monthly payment should you become temporarily or permanently disabled through illness or accident.

Single Premium Loan insurance is paid once, upfront at the time the loan is approved and based on the loan amount. Monthly premium loan insurance is available for lines of credit, quick loans or student loans and the premium is paid monthly based on your balance.

Life Insurance

This pays out the outstanding insured balance of your loan upon your death.

Critical Insurance

This pays the outstanding insured balance of your loan if you are diagnosed with a critical illness.

Disability Insurance

This will pay your insured monthly payment should you become temporarily or permanently disabled through illness or accident.

Loss of Employment Insurance

This will pay your insured monthly payment should you become unexpectedly unemployed.

Some conditions apply for all insurance. Please discuss your options with our lending team.

Creditor’s group insurance is optional and is underwritten by Co-operators Life Insurance Company. Supporting services, such as enrolment intake, medical underwriting and claims administration, are provided by the employees of CUMIS Services Incorporated, a subsidiary of Co-operators Life Insurance Company. Coverage is governed by the terms and conditions of the creditor group insurance policy issued to the creditor and is subject to terms, conditions, exclusions, and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details.

To contact CUMIS, please visit www.cumis.com or call 1-800-263-9120. Individual circumstances may vary. You maywish to contact the licensed insurer’s representative or a licensed insurance agent if you need advice about your insurance needs.