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CATCA Plan+ group life insurance

Regardless of your income, position, or economic circumstances, planning for the unexpected only makes common sense.

How prepared are you for the unexpected? If you or your spouse died, would your family be faced with an economic as well as an emotional crisis?

While the life insurance coverage in your employee benefit program may be adequate to meet most of your financial needs, it may not be enough to meet all of your obligations or cover the potential costs of estate settlement fees, housing, your children's education, day care, emergencies or other expenses.

Designed to supplement the insurance coverage you may have through work or other sources, CATCA Plan+ group term life insurance can provide you and your spouse with maximum insurance coverage at rates competitive with those offered by bank mortgage and credit card insurance programs.

An alternative to mortgage insurance

Buying a home? Try CATCA Plan+ instead of mortgage insurance

If you’re considering buying a home, you’ll need to consider mortgage insurance. While mortgage insurance is a great way to ensure your family or estate doesn’t have to continue to pay your mortgage in the event of death, buying mortgage insurance from a bank just doesn’t make sense.

There is an alternative to the declining values and high premiums of bank mortgage insurance plans: CATCA Plan+ group life insurance.

Here are a few reasons why you should consider the CATCA Plan+ for your life insurance protection instead of a bank.

COVERAGE: Bank plan coverage usually decreases as you pay-off the mortgage while the premium remains unchanged. CATCA Plan+ can provide you and your spouse with up to $500,000 of life insurance protection each. Plus, you can retain coverage to a maximum of age 70 (the maximum coverage from age 65 to 70 is $150,000).

PRICE: Most bank products feature “one size fits all” underwriting. CATCA Plan+ offers preferred rates for non-smokers, women and those who live more healthy lifestyles. The result: reduced rates!

PORTABILITY: Changing your address or bank can be a hassle with traditional bank plans. You may have to re-apply for the new insurance coverage based on the costs at your new age. With CATCA Plan+, you can keep your coverage intact no matter where — or how often — you move.

BENEFICIARY: Bank plans work on a simple formula: You die, they get the money. With CATCA Plan+, your insurance proceeds go directly to the beneficiary you name, tax-free. Let your loved ones, not the bank, decide how your money should be used.

LONG-TERM COVERAGE: With banks’ mortgage insurance plans, coverage ends with the mortgage. What about other needs such as estate planning, debt coverage or children’s education? CATCA Plan+ lets you design a plan that can stay in place after your mortgage is paid off.

PLUS, CATCA Plan+ also provides up to $500,000 of accidental death and dismemberment (AD&D) coverage. Plus, for CATCA members, it provides $5,000 of critical illness coverage at no extra charge.