Dcu's Term Life Insurance Offer: What You Need To Know

DCU, or Digital Federal Credit Union, offers a range of insurance products to its members, including auto, home, property, and liability insurance. While DCU does not explicitly mention term life insurance, it does provide payment protection insurance, which includes benefits in the event of the policyholder's death. This suggests that DCU may offer some form of life insurance as part of its payment protection plan. Additionally, DCU provides its employees with basic life insurance and AD&D insurance as part of their benefits package. Therefore, it is worth exploring the options available to members and employees of DCU to determine if term life insurance is among their offerings.

DCU's Payment Protection Insurance

DCU Payment Protection Insurance helps to relieve the financial stress and worry related to making loan payments when your life takes an unexpected turn. It is insurance that goes with your DCU loan, protecting you during times of financial stress.

DCU Payment Protection Insurance temporarily cancels your loan payment without penalty, added interest, or being reported as delinquent to the credit bureau when one of the following covered events occur:

• Death – gives your family time to get back on its feet financially.
• Disability – helps you avoid bills piling up as you try to regain your health and earning capacity. Use this as a supplement to any disability coverage you may have at work (which usually covers only 60% of pay).
• Involuntary Unemployment – gives you assurance during a difficult time that one of your major monthly expenses will be taken care of as you search for new employment.
• Family Medical Leave – helps your family with a major expense during what is often an unusually hectic time – a leave from your job for family or medical reasons.
• Hospital Stay – provides peace of mind and one less worry while you're in the hospital.

DCU Payment Protection is available for closed-end consumer loans (if the loan has a term of 120 months or less) and credit cards up to $50,000. Refer to your plan documentation for specific terms and conditions.

DCU's Life Insurance for Employees

DCU offers a range of insurance products to its members, including life insurance. DCU's life insurance options for employees include Basic Life and Accidental Death & Dismemberment (AD&D) Insurance, as well as Supplemental and Dependent Life and AD&D Insurance.

The company-paid Basic Life and AD&D Insurance provides coverage for employees in an amount equal to one times their annual salary. This means that in the event of an employee's death, their beneficiaries will receive a payment equivalent to the employee's annual salary. This can provide financial support and peace of mind for the employee's family.

Additionally, DCU offers Supplemental and Dependent Life and AD&D Insurance, which allows employees to purchase additional coverage for themselves and their dependents. This optional coverage ensures that employees can customize their insurance plans to meet their specific needs and provide added protection for their loved ones.

DCU also provides employees with access to other types of insurance, such as health, dental, and vision insurance, as well as short- and long-term disability insurance. The company strives to offer comprehensive benefit packages to take care of its employees and their families.

In addition to insurance benefits, DCU offers a range of other perks and programs to support its employees, including a 401(k) plan with a company match, paid time off, tuition reimbursement, and various employee assistance programs. The company aims to create a supportive and rewarding work environment for its employees.

DCU's Auto Insurance

DCU Insurance, an affiliate of DCU, is a licensed property and casualty insurance agency formed to serve the personal insurance needs of its members. DCU Insurance helps you achieve financial well-being by protecting your most valuable personal assets – your home, car, and earnings – from the ever-present, serious threat of property and liability losses.

DCU Insurance provides top-quality auto insurance "the DCU Way" in Massachusetts and other states, helping members qualify for many available discounts. Auto insurance provides financial protection if an accident damages your vehicle, you are injured in a crash, or your vehicle is involved in injury or damage to another individual or vehicle. It can provide property, liability, and medical coverage.

Automotive GAP, also known as Guaranteed Asset Protection (GAP), pays the difference between what you owe on the vehicle (whether you are buying or leasing) and the cash value of the vehicle in the event that the vehicle is “totaled” in an accident or stolen.

DCU Insurance helps you find the coverage that's right for you at all stages of your life. They do the shopping for you and help you get all the discounts you qualify for. They give you personal service and take the time to listen to you, explain your choices, and answer your questions.

DCU's Home Insurance

DCU Insurance is an affiliate of DCU and is a licensed property and casualty insurance agency. DCU Insurance helps members protect their most valuable personal assets—homes, cars, and earnings—from the ever-present, serious threat of property and liability losses.

DCU also offers Renters Insurance, which covers the value of your belongings but not the physical building. Losses typically covered include fire or smoke, lightning, vandalism, theft, explosion, windstorm, and water damage but not flood damage. Flood insurance has to be purchased separately.

DCU Insurance helps members find the right coverage for their needs, get all the discounts they qualify for, and provides personal service.

DCU's Umbrella Liability Insurance

DCU Insurance, an affiliate of DCU, is a licensed property and casualty insurance agency that offers umbrella liability insurance. This type of insurance provides additional personal liability coverage beyond what is offered by standard auto and homeowners insurance policies. It also covers claims that those policies do not.

Umbrella liability insurance from DCU can give you peace of mind by protecting you in the event of unfortunate circumstances. DCU treats its members with the respect they deserve, offering top-quality products from reputable insurers at fair prices, along with outstanding service and member education.

Remember that any insurance required as a condition of a loan or extension of credit by DCU need not be purchased from DCU Insurance. You are free to purchase it from an agent or insurance company of your choice. Insurance products are not deposits of DCU and are not protected or guaranteed by the credit union.

Frequently asked questions