Loan Payment Protection

In today's uncertain environment, financial security is key. A death, disability or car accident can make covering the payment on a consumer loan a huge burden. According to a recent article in the NYU Law Review, more than half of all bankruptcies are due to an illness or death in the family. The article states that many families are just one illness or accident away from financial collapse. Service Credit Union's loan payment protection package is a cost effective way to insure against financial problems. The loan protection package is used to:

• Cover the remaining loan balance in the event the borrower dies
• Pay the monthly payment on a loan if the member becomes totally or continuously disabled.
• Avoid financial hardship for family members in the event of death or disability.
• Cover the deficiency balance on an auto loan in the event of a total loss on a vehicle.
• Credit union payment protection is an effective way to provide financial stability. Members selecting the loan payment protection will have the opportunity to adjust the terms of their loan to meet their minimum payment requirements. Service Credit Union's online loan calculator can help members decide on a loan that works with their financial situation.

Payment protection at the credit union includes Guaranteed Asset Protection coverage, credit life insurance and credit disability insurance. To sign up for Service Credit Union's loan payment protection package contact your local branch or call 1-800-936-7730.