Payment Protection may cancel your loan balance (up to the contract limits) or monthly loan payment without penalty or added interest due to an unexpected event. You can select the optional plan that will support your family’s financial protection needs.
Protect what matters
Life is unpredictable. There are a wide range of unexpected events that could leave you and your family scrambling to pay monthly bills. In the event of death, disability or unemployment, you wouldn’t want your family to worry about making your loan payments.
With Payment Protection, your loan balance or monthly loan payments may be canceled without penalty or added interest in these situtations:
In the event of death, it cancels the remaining loan balance up to a maximum in the contract.
If you become disabled, it cancels up to a maximum number of loan payments based on the contract.
If you are involuntarily unemployed, it cancels up to a maximum number of loan payments based on the contract.