Term Insurance - Secure your future and protect your loved ones with LifeRing Group Term Life Insurance or the new 10 Year Level Premium Group Term Life Insurance Plan.  The LifeRing Group Term Life Insurance Plan has been in effect for over 25 years.  Both Plans are underwritten by New York Life Insurance Company.  Members can apply for amounts up to $500,000 of LifeRing Group Term Life Insurance and up to $1,000,000 of 10 Year Level Premium Group Term Life Insurance.

For more information, call 1.800.223.8646 and tell the LifeRing Representative that you're a member of IBM Southeast EFCU.

Title Insurance
Several things happen behind the scenes when you buy a house. For example, IBM Southeast EFCU will have someone perform a title search to make sure the seller has a legal right to transfer ownership, and to see if there are liens or restrictions on the property. A lawyer, abstractor or employee of the title company does the title search.

Title insurance provides protection against financial loss in case a defect in the title turns up at some future date. Possible defects include:

        Flawed information in deeds or mortgages (like an incorrect name)

        Liens or claims against the property or the property owner (unpaid taxes or bills for water service)

        Claims to ownership from a former owner or spouse

        Invalid deeds (from a past sale or transfer by a party who didn't actually own the property)

Private Mortgage Insurance
When you acquire a mortgage with less than a 20% down payment, IBM Southeast EFCU may require you to buy mortgage insurance. This coverage helps protect the lender in case you can't make your payments and default on the loan. IBM Southeast EFCU isn't the only beneficiary. Mortgage insurance makes it possible for people with small down payments to buy the home of their choice.

Homeowner, Flood and Windstorm Insurance
Windstorm and flooding are not covered by a standard homeowner's insurance policy. To determine if you need flood insurance, ask your insurance professional about the flood history in your area.  If there is a potential for flooding or wind damage, you will be required by IBM SE EFCU to purchase a policy that covers the structure and your personal belongings.  Flood insurance can be purchased from an insurance agent or company under contract with the Federal Insurance Administration (FIA), part of the Federal Emergency Management Agency (FEMA). Flood insurance is only available where the local government has adopted adequate flood plain management regulations under the National Flood Insurance Program (NFIP). Talk with your insurance agent on the necessary coverages for your homeowners policy, flood and/ or windstorm policies if applicable.