Credit Protector Program
Safeguard your loan with CREDIT PROTECTOR Program
Now you don't have to lay awake at night worrying about what will happen if an unexpected crisis happens because CREDIT PROTECTOR, our voluntary debt cancellation program, cancels your eligible loan balance, up to agreement maximum, should you die before paying off your loan.
In addition, if you become disabled due to a covered illness or injury, or become involuntarily unemployed, CREDIT PROTECTOR can cancel the principal and interest portion of your monthly loan payment, up to the agreement maximum.
With CREDIT PROTECTOR you pay group rates and only buy enough protection to cover your loan balance, and that can save you money.
Other Benefits Include:
- Protects your credit rating
- Automatic eligibility for most borrowers
- Simple enrollment
- Immediate coverage for eligible borrowers
- Convenience - cost is included in your loan payment
Consumer Loan, Home Equity, and Credit Card Protection
- Choice of single or joint protection for just pennies a day
- Protection can include life, disability, and involuntary unemployment
- Cancels your loan balance up to $100,000 in the event of death before your 70th birthday
- Provides up to 12 months or $12,000 of disability protection up to age of 70
- Cancels your loan payments for up to six months or $3,000 if involuntarily unemployed up to the age of 70
Our new Credit Protector Program options and rates are shown below. The applicable fee (based on the rates shown below) will be included in your monthly loan payment.
|Type of Protection||Single Protection Fee||Joint Protection Fee|
Loss of Life, Disability, Unemployment
|$.368 per $100 of outstanding loan balance||$.670 per $100 of outstanding loan balance|
Loss of Life, Disability
|$.212 per $100 of outstanding loan balance||$.385 per $100 of outstanding loan balance|
Loss of Life
|$.070 per $100 of outstanding loan balance||$.128 per $100 of outstanding loan balance|