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EFFECTIVE September 1, 2014

Dear Insured Borrower(s):

Your Credit Union, NUCOR Employee's Credit Union, is announcing a change in the credit insurance program for its insured borrower(s).

This notice contains details of upcoming changes to the Level Rate Credit Disability and/or Level Rate Credit Life insurance, underwritten by CMFG Life Insurance Company, currently being provided to you through NUCOR Employee's Credit Union. As of September 1, 2014, the changes will apply to all covered loans and advances.

Summary of change(s)



Insurance Type

New Rate per $100 of

Outstanding Loan Balance


Single Credit Disability



Single Credit Life



Joint Credit Life



What the change(s) mean to you:

The new rate(s) will be applied monthly to insured loans up to the policy maximums. An increase in rate could result in a higher last payment or may extend the duration of the loan. Contact your Credit Union if you have questions about how this affects your loan or about changing your monthly payments.

Credit Disability Insurance Plan of Benefits

Old Plan of Benefits

New Plan of Benefits

30 Day Retroactive

14 Day Retroactive

What the change(s) mean to you:

A Retroactive Plan means: Benefits are calculated from the first day of total disability. Disability benefits for insured events that occur after the effective date of the change will be paid according to the new plan of benefits in force.

Claims submitted for any covered events that occurred on or before September 1, 2014, will be processed subject to the terms and conditions of the insurance then in force. Please keep this notice with your certificate of insurance or other important loan/insurance documents.

You have the right to cancel coverage at any time by providing written notification to your Credit Union. If you have any questions regarding this notice or your coverage, please contact NUCOR Employee's Credit Union. Again, there is no action necessary on your part to continue coverage.


South Carolina

*If you have any questions concerning this rate change, please email