Loan protection. Prepare for the unexpected.

Optional loan insurance (or protection) is there to help pay the bills when the unexpected happens. If you lose your income due to involuntary unemployment, injury, or death, loan protection can help.

Loan Protection Options

Involuntary Unemployment Insurance

Benefits a member in the event they become involuntarily unemployed or in the event a co-borrower on the loan becomes involuntarily unemployed.

Can be added only in the first 180 days after funding or if a refinance occurs.

Coverage: Cancels up to 6 loan payments up to $1,000 per month and $15,000 over the term of the loan, per each protected event and per each protected borrower

Life Insurance

Benefits a member in the event of their passing or the passing of a co-borrower on the loan.

Can be added at any time.

Coverage: Cancels remaining loan balance up to $75,000

Disability Insurance

Benefits a member in the event an illness or injury results in them being unable to work or an illness or injury of a co-borrower on the loan resulting in them unable to work.

Can be added at any time.

Coverage: Cancels up to 6 loan payments up to $1,000 per month and $15,000 over the term of the loan, per each protected event and per each protected borrower

Eligible Loans

Consumer Loans including but not limited to Auto Loans, Recreational Vehicle Loans, and Personal Loans

Credit Cards

Real Estate Loans, Student Loans and Business Loans are NOT eligible.

For more details about eligibility, contact us.

Cost Breakdown

You can add loan protection to your monthly loan payment at a rate of:

Add 1 protection option

$1.25/mo

per $1,000 of loan balance covered

Add 2 protection options

$2.00/mo

per $1,000 of loan balance covered

Add all 3 protection options

$2.50/mo

per $1,000 of loan balance covered

Getting started is easy

Applying for a new loan?

If you haven’t applied yet for the loan you’d like to protect, you’ll have a chance to add insurance options in the loan application.

Already have a loan with us?

If you already have a loan you’d like to protect or you have questions, contact us! Our experienced member advisors can help you find the option that works for you.

Disclosures

Some restrictions and specific qualifications apply. Not all borrowers are eligible for all coverage. Borrower must be approved for the loan and meet the coverage criteria to qualify. Talk to a Member Advisor to learn more about coverage options.