Protect Your Loan—and Your Peace of Mind

Yes. To qualify, borrowers generally must be under age 70, currently working at least 24 hours per week, and meet certain health eligibility requirements. Certain conditions, including preexisting conditions, employment status requirements, age limitations, waiting periods, and other restrictions, may affect eligibility for benefits.

Debt Protection may be available for closed-end consumer loans (such as auto loans or other fixed-term loans), consumer lines of credit, and credit cards. Availability depends on the type of credit and borrower eligibility. Ask your lending representative if Debt Protection can be added to your account.

The cost depends on the level of coverage you choose and whether the protection is for a single borrower or joint borrowers. Rates are calculated per $1,000 of your loan balance and are included in your monthly loan payment. Monthly costs may increase or decrease depending on changes in your outstanding loan balance.

Example:
If you take out a $10,000 personal loan and choose Platinum coverage for a single borrower, the estimated monthly cost would start at $24.80. This is calculated by multiplying the Platinum single rate ($2.48 per $1,000) by the loan balance. Actual costs may vary as your loan balance changes.

No. Debt Protection is completely optional. Choosing not to add it will not affect your loan approval, interest rate, or loan terms.

Depending on the plan you select, Debt Protection may: cancel your remaining loan balance in the event of death, cancel eligible loan payments if you become disabled, or cancel a limited number of payments if you experience involuntary unemployment.