Debt Protection is a plan that either cancels debt or makes loan payments in certain events. The benefits are the same as traditional Credit Life and Credit Disability Insurance.

Life Coverage pays off the loan balance in the event of the death of the borrower, or either of joint borrowers if joint coverage is elected.

Disability Coverage makes loan payments if the borrower is unable to work because of a disability. If joint coverage is elected, payments are made if either of the joint borrowers become disabled.

Life-Disability Coverage combines both of these protections in one plan. It is available either as single coverage for one borrower or as joint coverage for joint borrowers.

Involuntary Unemployment is a feature that is available with combined Life-Disability coverage. This plan option makes loan payments in the event of the involuntary loss of employment of the borrower. If joint coverage is elected, payments are made if either of the joint borrowers become involuntarily unemployed.

Debt Projection is available on loans with balances up to $75,000. Eligible loans are consumer loans and second mortgage loans, including both closed-end installment loans and revolving lines of credit. Debt Protection is not available on first mortgage loans.

There are no age limits for coverage. If enrollment is requested 30 days or more after the loan is made some health questions apply.

The cost of these Debt Protection plans, if elected to the borrower, are calculated and included in the loan payment amount.