Protect yourself and your family with debt protection

Debt protection is a simple, cost-effective way to cancel your loan balance or reduce your monthly payment if you become disabled, unemployed or pass away. It helps relieve the financial stress for you and your loved ones if life takes an unexpected turn.

What is covered?

Depending on the plan you select, our debt protection plan cancels your outstanding balance if you pass away or your monthly payments for a specified period if you become disabled or involuntary employed.

Why debt protection might be right for you

• Helps protect your credit rating so you don’t default on a loan
• It’s convenient, the cost of coverage is included in your monthly payment
• Reduces your financial risk so your family can focus on what matters most

What is covered?

• Loss of life: Cancels the outstanding loan balance up to a specified dollar amount.
• Disability: Cancels up to a specific number of monthly payments.
• Involuntary unemployment: Cancels up to a specific number of monthly payments.

All benefits are subject to plan specific maximums. Connect with your loan officer to learn more about specific coverage details.

Who is eligible?

You must meet the following to qualify for debt protection:

• Under 70 years old
• In the last two years, you haven’t been advised of, or treated for, or taken any medication for heart attack (or other heart disease or disorder), coronary
  artery disease, cancer, stroke, cirrhosis, AIDs, or had a positive HIV test
• Presently working 25 hours or more per week
• Not self-employed

What else should I know?

A few key points of debt protection.

• This is entirely optional coverage, and it won’t affect your application for credit
• You can cancel anytime. If you cancel within 30 days, any fees paid will be refunded
• Involuntary unemployment that occurs within 90 days after enrollment will not be covered
• Coverage details, benefit maximums and exclusions are outlined in the sample addendum (PDF)