¹ LIMRA, 2018 Insurance Barometer
² Council for Disability Awareness, Disability Statistics, 2018

Exclusions

This information is intended to serve as a general guide to Credit Insurance coverage. Depending upon your state of residence, Credit Life Insurance may not cover suicide that occurs within six,12 or 24 months of enrolling in the plan (in Idaho, within six months). Also, in some states, Credit Life Insurance may not cover pre-existing medical conditions.

Depending upon your state of residence, Credit Disability Insurance benefits may not be provided if illness or injury is the result of one or more of the following: (1) self-inflicted, (2) normal pregnancy, (3) war-related injury, or (4) illness, or medical conditions for which the insured debtor received or had medical treatment, advice or diagnostic tests either for that same condition or a related condition within the six month period immediately prior to the effective date of his or her insurance under this policy and which results in total disability commencing within six months after the effective date of the insured debtor’s coverage under this policy (Item (3) not applicable in Idaho). 

Note: Some exclusions are not in force in every state or may vary due to state-specific requirements. Verify state-specific exclusions and requirements.

In New York, Credit Disability Insurance benefits are not provided if illness or injury is the result of one or more of the following:(1)_self-inflicted injuries, (2) war-related injury, or (3) illness, or medical conditions for which the insured debtor received or had medical treatment, advice or consultation within the six month period immediately prior to the effective date of his or her insurance under this policy and which results in total disability commencing within six months after the effective date of the insured debtor’s coverage under this policy (exclusive of acute infectious diseases of the upper respiratory tract and other diseases generally considered medically as not adversely affecting future health).

Disclosures

Payment Protection Credit Insurance is not a deposit or obligation of or guaranteed by your financial institution or its Affiliates. Payment Protection is not insured or guaranteed by an agency of the federal government. Your credit approval cannot be conditioned on whether you purchase Credit Insurance. You may obtain insurance to protect your loan from an entity not affiliated with your financial institution.

This advertises the following Group Credit Insurance Policy Forms: Minnesota Life MHC-XX-4000 series and XX-60000 series, and Securian Life XX-60000 series, as well as any applicable state variations.

Insurance products are issued by Minnesota Life Insurance in all states except New York. In New York, products are issued by Securian Life Insurance Company, a New York-authorized insurer. Minnesota Life is not an authorized insurer in New York and does not do business in New York. Both companies are headquartered in St. Paul, MN. Product availability and features may vary by state. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues.

GAP is subject to limitations and exclusions, including but not limited to a loan-to-value (LTV) maximum.

ADR does not cover motorcycles, boats, and RVs.

Maximum Waiver Benefit can vary depending on level of protection selected and/or offered. Please reference the waiver addendum for specifics regarding maximum waiver amounts.​

*$10,000 Waiver Benefit applies here because waiver amount will not exceed the lesser of the maximum amount listed in the waiver addendum or outstanding loan balance at total loss. Loan amortization used in example: 2.99% APR, 72-month.