Tricare Credit Protect
Can help to pay off or reduce outstanding loan and leases balances in the event of death or critical illness. Or it can cover the payments in the event of a disability allowing you and your family to stay on track financially. Optional Creditor Insurance helps when faced with unexpected life events.
Credit Life Insurance
In the event that the person insured dies prior to completing loan payments, the insurance provider will pay off the outstanding balance of the insured loan obligation, providing a free and clear vehicle title to the beneficiary or estate.
This protection will ensure a family will retain the vehicle and its equity value and have one less bill to pay.
- Pays off the outstanding balance of the vehicle loan obligation in the event of death
- Leaves your estate with the asset of the vehicle versus the liability of the debt
- Maintains the value of all your other Insurance policies
- Is nontaxable
- Provides affordable peace of mind
Disability Insurance—Accident and Sickness
In the event the insured person becomes totally disabled due to injury or sickness and is unable to work at their job, while under a doctor’s care, the insurance provider will pay the insured monthly payment. Subject to the waiting period, these payments will begin and continue until the insured is no longer totally disabled or upon termination of the insurance, whichever occurs first. Credit Disability Insurance provides peace of mind by insuring that an illness or disability does not result in the loss of your vehicle due to nonpayment of the vehicle loan obligation.
- Makes your vehicle loan payments for you if you are unable to work at your job due to sickness or injury, whether that happens at home, work or play.
- Continues until you can return to your job.
- Makes confinement to your home or hospitalization unnecessary.
- Benefit is nontaxable.
- Pays in addition to any workplace or private plans.
Critical Illness Insurance
In the event that the insured person is diagnosed with any of the covered conditions and survives 30 days following the diagnosis, the insurance provider will pay off the outstanding balance of the insured loan obligation in one tax-free lump sum.
The advances in medicine mean that your chances of surviving a serious illness and returning to full health are greatly improved. Critical Illness protection allows you to focus on your recovery without worrying about your vehicle loan obligation.
- Pays off the outstanding balance of the vehicle loan obligation in the event of:
- Heart Attack
- Bypass Surgery
- Organ Transplant
- Malignant Cancer
- Give protection at a time that can be both stressful and financially challenging.
- Is non-taxable.
- Provides peace of mind knowing you will have one less bill to pay.
Tricare Credit Protect Can Provide a Buffer