Credit Insurance

J.T. Miller Company

Credit Life Insurance

J.T. Miller Company protects your financial institution with credit life insurance when the unexpected happens.

Credit life insurance covers the lender in the unforeseen circumstance of the borrower’s death. It not only protects the borrower’s dependents, but credit life also benefits your financial institution. That’s because a credit life insurance policy’s beneficiary is the creditor – to the extent of borrower’s debt.

J.T. Miller Company’s policy is uniquely adapted to protect your borrower’s specific debt. A credit life policy is a convenient offering for covering  outstanding debt while alleviating a great deal of tension when managing one’s finances.

Benefits of a J.T. Miller Company credit life insurance plan include

  • Benefits are paid even if borrower has insurance elsewhere.
  • Borrowers in any occupation qualify.
  • Provides a family safety net for borrower.
  • Immediate coverage for your borrowers.
  • Limited underwriting.

Credit Disability Insurances

Credit disability insurance provides you with loan repayment in the event that your customer is unable to work due to illness or injury.

Also known as ‘accident and health insurance’, credit disability insurance makes monthly loan payments to lenders when a borrower is unable to work due to illness or injury. To qualify, the borrower needs to be employed 30 hours / week at the time of the loan.

Benefits of J.T. Miller Company’s credit disability insurance include

  • Credit score protection in the event of a protected illness or injury that prevents the borrower from working.
  • Credit disability pays in addition to any other existing disablity insurance.
  • Is not occupationally underwritten.
  • Protects borrowers largest asset. Their earning power!

Mortgage Life and Disability Insurance

Cover your agency and customers with insurance against the unexpected.

Mortgage life insurance, and mortgage disability insurance is designed to provide protection on long term loans. Rates are based on the borrower’s age, and premiums won’t increase as the customer gets older. That’s coverage for your clients, and peace of mind for your business.

Mortgage Life Insurance
Provides coverage for the borrower’s beneficiaries in the form of enough capital to pay off the balance of the loan in the event of their death. The coverage can be the same as the borrower’s current outstanding mortgage amount, or borrowers can opt for a return of premium policy.

Mortgage Disability Insurance
Similar to the life insurance plan, the disability insurance plan provides capital to pay bills in the event that the borrower is disabled or unable to earn an income. According to the US Department of Housing and Urban Development, nearly half of all foreclosures are caused by disability. Additionally, the Social Security Administration reports that one in five people suffer long-term disability before the age of 65. With these statistics in mind, it’s wise to advise your borrowers to invest in a disability plan, and it is a valuable offering for lenders to provide.

Mortgage Life and Disability Insurance Program Highlights.

  • An alternative to traditional term insurance.
  • Allows lenders to offer insurance as an added value benefit with their loan offerings.
  • Lender maintains services fees from purchased insurance plans following sale, transfer, refinance or paid-in-full.
  • Eliminates administrative work due to escrow. Premiums are paid via check debit.
  • Provides added security to lenders as the beneficiary (on loans serviced by the lender) in the event of a life claim. Insured is beneficiary for disability.
  • Demonstrates a customer-first approach for your financial institution

See what our satisfied clients say about us

"Thanks again for doing such a great job for us, and answering ALL of our questions! We love working with you and the entire staff at J.T. Miller."

Kathy Junker

VP of Real Estate Mortgage, First State Bank & Trust - Bayport

"We really appreciate Wade & Kurt from J.T. Miller as they have taken time to explain in detail our insurance options and coverage. Because of Wade and Kurt, we believe that we have purchased the best Bond and D&O Coverage possible. Kudos to J.T. Miller!"

Dean M.

President & CEO, VisionBank

Contact Us

For more information about a credit life insurance plan or to schedule a consultation, please contact us or fill out the form on this page.


J.T. Miller Company
PO Box 218
Hamel MN 55340

Fax: 763-512-2818

Hours: 8am - 4:45pm Mon.-Fri.


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