Loan Origination Insurance
LGFCU offers the following types of insurance that are only available when you first apply for a loan. They are not sold separately.
Credit Life and Disability Insurance
LGFCU provides Credit Life and Disability Insurance on most secured and unsecured personal loans to protect you and your family in the event of death or disability. Tell your loan officer you want credit insurance protection with your loan.
- Premiums cost much less than the industry average
- Charge is assessed to the loan monthly
- Maximum life coverage is $25,000
- Maximum disability coverage is $42,000
- Coverage provided until age 70
- Disability insurance is only available in conjunction with life insurance
| Single Life |
$.06 per $100 of balance |
| Joint Life |
$.08 per $100 of balance |
| Single Life and Single Disability |
$.21 per $100 of balance |
| Joint Life and Single Disability |
$.23 per $100 of balance |
Private Mortgage Insurance
LGFCU no longer requires private mortgage insurance ( PMI) on adjustable-rate or fixed-rate mortgages.
