Do Credit Unions Offer Free Life Insurance and Other Benefits

Credit unions often offer more than just loans and savings accounts. They frequently provide a range of benefits to their members, including life insurance.

Some credit unions offer free life insurance as part of their membership package. This can be a great perk for those who need life insurance coverage but may not be able to afford it otherwise.

In fact, some credit unions offer up to $100,000 in free life insurance coverage. This can be a significant benefit for members who want to ensure their loved ones are protected in case of their passing.

Additionally, credit unions may also offer other benefits such as identity theft protection, travel insurance, and even financial planning services. These benefits can be a valuable addition to a credit union membership.

Curious to learn more? Check out: Insurance Cover or Coverage

There are several types of life insurance that credit unions may offer, including term life insurance, whole life insurance, and universal life insurance.

Term life insurance provides coverage for a specific period, usually between 10 to 30 years, and pays out a death benefit if the policyholder dies during that time.

Whole life insurance, on the other hand, provides lifetime coverage, as long as premiums are paid, and also accumulates a cash value over time.

Universal life insurance combines a death benefit with a savings component, allowing policyholders to accumulate cash value over time.

Some credit unions may also offer group life insurance, which provides coverage to a group of people, such as employees or members.

If this caught your attention, see: Additional Liability Coverage

Some credit unions offer free life insurance as a benefit to their members. This can be a valuable perk, especially for those who may not be able to afford life insurance on their own.

One example of this is the $1,000 of no-cost AD&D insurance offered by State Credit Union, which is paid for by the credit union itself.

This type of insurance can provide financial support to your loved ones in the event of your passing or serious injury. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by your credit union.

State Credit Union members can claim their $1,000 of no-cost AD&D coverage, which is provided by CMFG Life Insurance Company.