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Protect My Loan Accounts


If you become disabled or die, the financial commitment you made on your loan remains. People who suffer an extended disability tend to have a drop in income and an increase in expenses. Families also face a challenge when a primary income-earner dies.

You may already have life insurance, but more than likely, you intended this money to support your family, not to pay off your outstanding loans.

Credit Insurance Options
We offer you a variety of loan insurance products, including credit life insurance to protect you and your family.

  • The benefits are paid directly to Guaranty Bank
  • Benefits are not taxable
  • In the event you pay off your loan early, the unearned insurance premium is refunded to you

Credit Disability Coverage

  • Benefits are paid when you are totally disabled due to a covered illness or injury
  • Benefits are paid even if you are at home under a doctor's care. Hospitalization is not required
  • Benefits continue until your doctor releases you from total disability or you return to work

Life Coverage

  • If you die while you are insured, the balance of your loan is paid off or reduced.

As soon as your loan is approved, you are eligible to apply for credit insurance. Generally, no medical examination is required. If approved for the insurance, your coverage is effective as of the date of the loan.

Paying your insurance premium is simple. Your monthly loan payment includes the premiums, so there is no need to write an extra check or remember an extra due date.