Loan Protection

We offer insurance products intended to benefit you and your family should you become disabled, unemployed, need to take medical leave, or pass away. These services are provided through Securian, one of the nation's largest and top-rated life insurance companies.

Generally, all loan products we have can be covered with the exception of first mortgage loans.

Mutual Protection Plan

This plan cancels a borrower's loan payments for a specified amount of time in the event of death, disability, involuntary unemployment, or family medical leave.

Benefits

• Provides financial assistance to your family should anything happen to you
• Allows your family to keep the products and services for which the loan was used without having to use insurance funds
• Provides a more comprehensive protection plan for you or your family
• Protect your credit rating should one of the covered events occur
• Low premiums wrapped into loan payment
• Premiums go down as loan balance decreases

Coverage

• Death: Cancels the remaining loan balance as of the date of death (up to $50,000).
• Disability: Cancels up to the remaining term of the loan (up to $1,000/monthly).
• Involuntary Unemployment: After a 90-day waiting period, cancels up to six monthly payments or remaining term of the loan (up to $1,000/monthly) per occurrence; maximum six payments cancelled over the term of the loan even if multiple unemployment period occur.
• Family Leave: After a 180-day waiting period, cancels up to three monthly payments (up to $1,000) if the covered borrower takes a Family and Medical Leave Act (FMLA) leave from his/her job; maximum three payments over the term of the loan.

Credit Disability Insurance

Make sure your monthly loan payments would be covered if you were to become disabled and unable to work. This protection lets you rest easy knowing your family would be taken care of.

Benefits

• Removes the stress of loan payments and financial worry if you can't work due to disability
• Allows you to use other disability benefits for other monthly obligations
• Maintain the products and services for which the loan was intended even if you can't afford to pay
• Protect your credit rating should you become disabled and lose your regular income
• Low premiums wrapped into loan payment
• Cost of coverage does not increase with age
• Credit life insurance is also available

Let us know when placing your loan application if you would like this insurance coverage!