The interest(s) of due diligence should scream at you in such circumstances, as proper analysis of cost-benefit is mission critical (and, quite frankly, a requirement). A proper forms system includes such elements as a strong emphasis on:

Adherence to both state and federal laws and regulations;
Representing and conforming to your ever-changing internal policies and procedures;
Working hand-in-hand with the multitude of technology/IT systems in use at your credit union;
Providing data services so that all your forms are automatically populated with data from your system(s); and
Respecting UDAAP by making it 100% clear what transaction is taking place, rather than leading with and being overwhelmed primarily by an insurance purchase.

At the end of the day, it remains all about your members. So, if they had a hand in making the decision, what would they choose? Forms provided by a company specifically dedicated to forms and nothing else? Or, forms provided solely in conjunction with and subsidized by the insurance dollar, perhaps even lessening the important emphasis on:

Compliance;
Internal policies and procedures;
Technology/systems integration;
Forms and only forms (and not insurance); and
Transparency with your members.

Putting this theory to the test is simple: Request the insurance carrier that you chose to sponsor the cost of forms not provided by them, and see what happens next … it'll likely be an entertaining exercise.

Instant Insights /

Why Credit Unions Should Keep Forms & Insurance Separate

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