Credit Life Insurance & Disability Insurance

How can these optional products help me?

Mariner Finance offers optional insurance and other products. Depending on the product and covered event or need, these products could help you make your loan payment, cover unexpected expenses, or provide other valuable benefits.

Please note that not all products are available in all states. Optional products are available for purchase in connection with obtaining a loan and the cost of any selected products will be financed as part of the loan transaction. Terms and conditions apply, and coverage is subject to each applicable policy or plan. Customers may cancel optional products at any time. Terms of any available refund will be detailed in the applicable policy or agreement.

Credit Life Insurance

What is Credit Life Insurance ?

Credit life insurance is optional coverage that pays off or reduces the amount owed on a specific outstanding debt, in the event of an insured customer’s death.

How does Credit Life Insurance work ?

Up to certain policy limits, a covered claim under a credit life insurance policy can pay off the outstanding balance of the covered borrower’s loan in the event of the borrower’s passing during the term of coverage. The insurance carrier will make the applicable payment directly to the creditor for the debt.

Advantages of Credit Life Insurance

• For a covered claim, the policy can pay off the remaining balance owed on a loan.

• Repaying the loan can eliminate an estate obligation.

• Co-borrowers are relieved of loan obligations for amounts covered by relevant insurance policies.

Disability Insurance

What is Credit Disability Insurance ?

Credit disability insurance is optional coverage that makes loan payments if an insured customer becomes sick or injured through a covered event and is unable to work.

How does Credit Disability Insurance work ?

Upon submission and approval of a covered claim, credit disability insurance can pay some or all of a borrower’s monthly loan payment(s) during the period that the borrower is unable to work due to the qualifying disability. Under the policy, covered loan payments are made by the insurance carrier directly to the creditor. Borrowers remain responsible for any portion of their loan obligation not covered by the credit disability coverage.

Advantages of Credit Disability Insurance

• For a covered claim, subject to policy limits, the policy can pay a borrower’s monthly loan payment(s) for the policy coverage period.

• The coverage can assist with monthly budgeting in the event of a covered claim.

• No medical exam is required at the time of purchase, subject to basic health representations and verification of the current employment.

Helpful optional product resources

For more detailed information about each of the optional products available, you can download the product brochures shown below. Simply click on any of the linked brochures for more details. You can also always reach out to your local branch with additional questions.