These payment protection coverages provide a valuable safety net if you are uninsured or underinsured. Signing up for payment protection is part of the loan process and, if you qualify, covers you the moment the loan is issued. Net coverage is best. Net credit life coverage insures only the loan balance. Gross coverage covers the loan principal and interest, resulting in higher premiums.
Credit unions exist to serve their members.
They are owned and democratically controlled by members. There are no medical exams required if you elect the insurance at the time you take out your loan. You must not be older than the maximum eligible age when you take out your loan. To qualify for credit disability coverage, you must be actively at work and regularly performing all the usual duties of a full-time, gainful occupation. Probably, because you didn't know it was available.