RALEIGH, N.C., July 25, 2017 (GLOBE NEWSWIRE) -- Since State Employees’ Credit Union (SECU) introduced SECU Life Insurance Company in 2013, the Credit Union has made it a mission to help uninsured and under-insured members acquire the coverage needed to protect their families in the event of death and give them greater piece of mind. SECU is pleased to announce over 34,000 members have taken advantage of SECU Life Insurance offerings, equating to over $1 billion in coverage!
Most financial experts consider life insurance to be a critical part of a sound financial plan; very few people have the assets to offset their risk exposure. With the average cost of a funeral today at close to $10,000, no insurance coverage to help compensate can be emotionally and financially devastating. SECU Life Insurance is helping members create a more comprehensive financial plan for the protection and well-being of their families.
The Credit Union has a team of licensed non-commissioned SECU Life Insurance agents on staff in all 258 SECU branches statewide to assist members with their insurance needs. Members can choose from term and whole life policies, as well as deferred and immediate fixed annuities. SECU Life also provides an automatic no-cost $1,000 group term life policy for each of the Credit Union’s FAT CAT youth and Zard teen members as an account benefit. With the youth program coverage, there is also the option to purchase a supplemental policy of $9,000 at a cost of just $18 annually.
In the past year, the number of individual life and supplemental youth policies purchased through SECU Life has grown by over 40%. SECU member Michael Walden of Dunn, N.C. is among that number, having recently purchased a policy for himself and his two adult sons. He remarked, “The Credit Union really met a need for my family and the insurance products were much more cost effective than other quotes I received. I like the convenience factor of having a local branch contact for policy information and further assistance down the road.”
Investment advisory services offered through Credit Union Investment Services. Securities offered through SECU Brokerage Services. Member FINRA, SIPC. Trust Services offered through MEMBERS Trust Company, a federal thrift regulated by the Office of the Comptroller of the Currency. Securities, Trust and Insurance products are not credit union deposits, are not obligations of or guaranteed by the Credit Union or MEMBERS Trust Company, and are not insured by the NCUA or any federal government agency. Securities and Trust products involve investment risks, including possible loss of principal invested. Insurance rate quotes are subject to change upon completion of the underwriting process. Investment, Trust and Insurance representatives are also credit union employees, who may accept deposits.
About SECU
A not-for-profit financial cooperative owned by its members, SECU has been providing employees of the State of North Carolina and their families with consumer financial services for 80 years. The Credit Union also offers a diversified line of financial advisory services including retirement and education planning, tax preparation, insurance, trust and estate planning services, and investments through its partners and affiliated entities. SECU serves 2.2 million members through 258 branch offices, nearly 1,100 ATMs, 24/7 Member Services via phone and a website, www.ncsecu.org.