Mortgage Payment Protection
Protecting yourself and your new home is an important part of the process. No one can foresee the future, so you want to ensure that you and your family are well prepared in the event of death, injury or loss of employment. SCU provides CUMIS protection for loss of life, disability, critical illness and loss of employment coverage.
Loss of Life Coverage – Pays the outstanding insured loan amount tax-free in the event of your death, freeing your family from financial stress.
Disability Coverage – Pays your insured monthly payment tax-free while you are off work due to sickness or injury, protecting your assets and credit rating.
Loss of Employment Coverage – Pays your insured monthly payment tax-free with the loss of work, fills the gap between employment insurance and your previous income, helping you to maintain your savings and once again protecting your assets and credit rating.
Critical Illness Coverage – Pays off the insured loan upon diagnosis of cancer, stroke or heart attack providing you with peace of mind so that you can deal with the unexpected costs of a critical illness.