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September 7, 2022
Find the Right Life Insurance Policy with Quorum
Although thinking about your death is not the most comfortable topic, having the right life insurance is essential to planning for your present and your future. There are several different types of life insurance coverage, and what’s best for you varies based on your individual situation.
Not sure where to start? Quorum Insurance has you covered.
Three common types of life insurance policies include:
- Term Life Insurance: Term life insurance provides protection for a specific period of time. It’s a good place to start because it’s generally less expensive than whole life insurance and is available in varying time periods with fixed premiums.
- Whole Life Insurance: Whole life insurance is a form of permanent life insurance that remains in place your entire lifetime. It can also be an investment opportunity as many policies also build cash value over time.
- Final Expense Life Insurance: Final expense insurance, also referred to as burial insurance, covers end-of-life expenses including funeral arrangements and any remaining medical or legal expenses that will need to be settled by your beneficiary.
What can life insurance be used for?
When you pass away, your life insurance provides income to the beneficiary or beneficiaries you’ve named and can be used to pay funeral expenses, debt, tuition or other financial needs.
While you’re still living, the cash value growth of a whole life insurance policy is tax-deferred unless money is withdrawn. You can also take loans or make withdrawals against the cash value of a permanent life insurance policy to help with expenses including college tuition or the down payment on a home.
What if I already have life insurance?
Even if you already have life insurance coverage, if you’ve experienced any big changes in your life, it may be time for a policy change as well. Maybe you’ve recently married or divorced, purchased a home or opened a business. If this sounds like you, your life insurance coverage may need a change to meet your current needs.
Ready to find out which life insurance policy is right for you?
Simply call Quorum at 800.714.1447 for a free, no-obligation quote or request a quote online today.
*Quorum Insurance, LLC is an affiliate of Grow Financial. Insurance products purchased through Quorum Insurance, LLC are not deposits of Grow Financial and are not protected by NCUA. They are not an obligation of or guaranteed by Grow Financial and may be subject to risk. Business conducted with Quorum Insurance, LLC is separate and distinct from any business conducted with Grow Financial. Grow Financial is in no way responsible for the services provided through this program.
How to Find Your Routing & Account Numbers
When you make a payment online, by phone or on a mobile device, you may be asked for our routing number and your checking account number. Credit unions and banks use these numbers to identify accounts and make sure money gets where it’s supposed to be. You’ll also need to provide your routing and checking account numbers for:
- Direct deposits
- Electronic checks
- Military allotments
- Wire transfers
Where to Find Your Routing & Checking Account Numbers
Your personal checks include both our routing number and your account number, as shown on the Grow check example below.
Don’t have a Grow check? No worries.
Visit any Grow store and ask for a Direct Deposit Form. It lists both your routing number and checking account number.
Making a Loan Payment
When it comes to making payments, we try to make it as painless as possible to pay your loan every month. We have several different ways to pay, including convenient online options.
You have two ways to pay online by transferring funds from another bank or credit union.
- Grow Online Banking (Preferred payment method for any loan)
This is the simplest way to pay your loan. You can make one-time payments or set up automatic recurring payments in Grow Online Banking. Once you log in, select “Transfer/Payments” from the menu. If you’re not enrolled in Grow Online Banking yet, you can set up your account in just a few minutes.
- Debit Card or ACH (Available for auto, personal loans and HELOCs)
Note: ACH and debit card payments are not available for credit cards or most mortgages, except HELOCs.
We accept ACH payments with no additional fees or Mastercard® and Visa® debit cards with a convenience fee of $4.95. To get started with an online ACH or debit card payment, select Pay Now below.
Pay by Mail
You can also pay any Grow loan by check through the mail. Please remember to include your account number and Grow loan number on the check. (For credit card payments, please do not write your 16-digit credit card number on the check, which can cause a delay in processing the payment.)
Address for auto, credit card, personal loan and HELOC payments:
Grow Financial Federal Credit Union
P.O. Box 75466
Chicago, IL 60675-5466
Address for personal first or second mortgages and home equity payments:
Grow Financial Federal Credit Union
P.O. Box 11733
Newark, NJ 07101-4733