Services/Applications

Insurances

Life Savings Insurance

Life Savings Insurance provides up to $2,000 of life insurance on your share balance. Upon the death of the member whose name appears first on the share account, the beneficiary will receive up to $2,000 in insurance payments on the share balance.

Accidental Death & Dismemberment (AD & D) Insurance

Maine State Credit Union offers $1,000 of Accidental Death & Dismemberment Insurance to our members at no charge. All you need to do is sign up during one of our open enrollment periods. If you would like additional coverage, premiums for that additional coverage will be deducted from your share account quarterly.

Loan Protection Insurance

Credit Life Insurance is a voluntary insurance program for members with loans. This insurance will pay off the insurable loan balance as of the date of death. Coverage is available on a single or joint basis, and maximum age for eligibility is 70. The premium is charged monthly and is added to the outstanding loan balance.

Credit Disability Insurance

Credit Disability Insurance is another voluntary insurance program for members with loans. This insurance will reduce or pay off the member's insurable loan balance if the member becomes disabled due to accident or illness. The benefit is paid directly to the credit union for the sole purpose of making the member's loan payment. There is a thirty day waiting period before benefits are payable. Coverage is only available on a single basis, and the maximum age for eligibility is 70. There is also a 25-hour per week working requirement. The premium is charged monthly and is added to the outstanding loan balance.