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Home and Auto Insurance for Lambton Financial Credit Union Members
Membership has its rewards and this home and auto insurance discount program along with excellent member service makes CUIS the right choice for your insurance needs.
Insurance coverage made simple and economical.
Credit Protection – “protecting
the needs of our credit union borrowers”
Lambton Financial Credit Union is pleased
to offer the following products to our owners. This outline
will provide you with some key highlights of the products we
offer.
Coverage for fixed term or line of credit loans
Life Insurance
If you should die during the loan period,
the coverage pays off the insured loan balance which will lessen
the burden on your family.
- Owners between 16 – 69 are eligible
to purchase
- Coverage terminates at age 70
- Limits up to $500,000 per member
Sickness & Accident Protection
If you are off work for a covered sickness or accident, an insured
loan payment will be made for you so that you can concentrate
on getting well.
- Owners between 16-59 are eligible to purchase but must be
working a minimum of 20 hours per week for 2 consecutive weeks
- Coverage terminates at age 65
- Monthly benefit is 3% of insured balance
to a maximum of $3,000 for line of credit loans. Fixed term loans are
the insured monthly loan payment to a maximum of $3,000.
Coverage for Mortgages
With all the financial pressures your family may face in the
event of an untimely death, sickness or accident, diagnosis of
a critical illness or job loss, mortgage insurance can relieve
much of that pressure.
Life Insurance
- Borrowers between ages 16-64 are eligible
- Coverage ends at age 80
- Limits up to mortgage balance – maximum
of $500,000
- Premiums are paid monthly through pre-authorized chequing
and remain the same through the term of the mortgage
Critical Illness
Mortgage Critical Illness insurance is a “living benefit”. The
policy will pay your insured mortgage balance in full which helps
you focus on your recovery, your family and your future.
- Rider – added to mortgage life insurance
- Covered illnesses - diagnosis of cancer,
suffer heart attack or stroke
- Borrowers between 16 – 55 are eligible
to purchase
- Coverage ends at age 70
- Limits available up to mortgage balance $25,000 - $500,000
- Premiums are paid monthly through pre-authorized chequing
and remain the same through the term of the mortgage
Sickness & Accident Protection
- Rider – added to group mortgage
life insurance
- Borrowers between 16-64 are eligible to purchase providing
they are working 30 hours per week on the loan date
- Coverage terminates at 65th birthday
- Maximum monthly benefit - $2,500
- Maximum term – 24 months
Loss of Employment Coverage
- Rider – added to group mortgage
life insurance
- Borrowers between 16-64 are eligible to purchase providing
they have been employed for the past 12 months and are working
30 hours per week on the loan date
- Coverage terminates at 65th birthday
- Maximum monthly benefit - $2,500
- Maximum term – 9 months
Members Term Life
Life insurance protection for virtually any type of loan you
have with your credit union. With this protection the debt
may be eliminated and may provide additional coverage for your
beneficiary to help with the expenses of an untimely death. This
product is also available to a member who would like to purchase
personal life insurance - it does not have to be tied to a loan.
- Members between 16 – 65 are eligible
to purchase
- Coverage ends at age 70
- Limits available up to $500,000 (more if required)
- Premiums are paid monthly through pre-authorized chequing
and will increase in 5 to 10 year increments depending upon
the term you select
- Coverage remains level, as your debt decreases, the amount
to your beneficiary will increase
These are contract highlights only; for complete details
of the contract provisions, please refer to the master group
policy or certificate of insurance at your credit union.
Title Insurance
In today's dynamic real estate market, securing ownership and mortgage priority on property has never been more important. Through our partnership with First Canadian Title, Lambton Financial members can purchase title insurance to protect themselves against loss resulting from title defects or fraud.
First Canadian Title offers a number of valuable products and services for both residential and commercial transactions. Contact your branch for more information
Travel Insurance
CUIS Travel Insurance coverage offers Lambton Financial members
a unique protection rated specifically by destination. It could
be your most important travel document.
CUIS travel insurance benefits include:
- 24-hour emergency medical evacuation, along with a direct
medical link between you and your family, family physician
and employer
- On-staff physicians and a team of claims professionals.
- Upfront payment of approved claims
- Coordination of payment of claim with provincial or territorial
health plan, and any other insurers
- Administration of claims by TIC Travel Insurance Coordinators
Ltd.
Summary of Benefits
Emergency Hospital & Medical
Emergency Hospital & Medical Insurance will protect you
from the severe financial burden that a medical emergency can
create.
CUIS Travel Insurance benefits include:
- Up to $2 million for emergency treatment of an injury or
sickness
- Pre-existing conditions coverage (under age 71, travelling
anywhere in the world for less than 36 days)
- Emergency medical evacuation via air ambulance
- Coverage for dental emergencies
- Transportation of a family member or close friend
to your
bedside
- Out of pocket expenses incurred by a family member or travelling
companion
- Transportation of a family member home (minor children will
be escorted)
- Coverage for multiple trips during the year available
- Senior’s Worldwide Plan that provides
coverage for up to 180 days also available
Visitors to Canada
Standard Plan ($50 deductible)
CUIS Travel Insurance provides:
- A choice of several coverage limits
- Coverage for up to 365 days (up to 180 days for those age
61 to 85 inclusive)
- Limited coverage for dental emergencies, chiropractic and
physiotherapy services, prescription medication (unless hospitalized),
and the repatriation, cremation or burial of remains
Deluxe Plan (no deductible)
In addition to the benefits listed above, CUIS Travel Insurance
deluxe plan features:
- Additional reimbursement when injury or sickness necessitates
an immediate return home
- $25,000 Accidental Death & Dismemberment
- Two follow-up visits to the doctor following emergency treatment
of an injury or sickness
Optional Plans
Trip Interruption
Accidental Death & Dismemberment (A.D. & D.)
The information contained on these web pages is a summary of
the CUIS Travel Insurance policy only. For official and up-to-date
information with complete details of coverage, limitations, exclusions
and general conditions, please visit your credit union or call
1-877-885-2847. Copyright 2005 |
