GEINS - IUI Summary

Involuntary Unemployment Insuance

In the event that your borrower becomes involuntarily unemployed, a loan that includes Involuntary Unemployment Insurance means:

The borrower's loan payment is made for them while they are out of work (subject to maximum monthly benefit payments).
Benefits are paid directly to the lender.
Period of coverage is set by the term of the loan.
Benefits are in addition to state unemployment compensation or any other protection they may have.
Monthly payments up to $1,000 are covered, for as long as 12 months.
Cost is not rated according to occupation.
Borrower must be employed at time of loan, with at least 30 working hours per week.

Eligibility for payments begins on the 31st day of involuntary unemployment (retro back to date of unemployment).

Rate: $4.00 PER $100 One Time Fee of Initial Insured Indebtedness

Example:	Loan Amount:	$20,000
	Amount Financed:	$21,018.19
	APR:	6.127%
	Total Number of payments:	$24,454.80
	IUI fee:	$978.19
Monthly Payment w/60 month term: $407.58

MAXIMUM MONTHLY PAYMENT	MAXIMUM TERM OF INSURANCE
$1,000.00	60 Months

TERM OF LOAN	MAXIMUM NUMBER OF MO. PAYMENTS
6-23 Months	4
24-35 Months	6
36-47 Months	8
48-59 Months	10
60 Months	12

Exclusions:
- Self Employment	-Loss of income due to disability caused by accident, disease, or pregnancy
- Irregular payments	- Loss of income due to termination as the result of willful misconduct
- Resignation	- Loss of income due to nuclear or natural disaster
- Co Debtors

* Note: Construction type employees must be employed at least 30 hours per week for 12 months consecutively for eligability.

For more information feel free to Contact Golden Eagle Insurance