Payment Protection provides you with Loss of Life, Disability, and Involuntary Unemployment packages that help protect your consumer and home equity loans. With Payment Protection, you choose the right amount of protection no more, no less.
Other benefits include:
- Helps protect your credit rating
- Simple eligibility requirements
- Fast, easy enrollment
- Immediate enrollment for eligible borrowers
- Convenient fee can be included in your monthly payment
Payment Protection Packages Available for Consumer & Home Equity Loans:
| Package 1 | Package 2 | Package 3 |
| Loss of Life Disability Involuntary Unemployment |
Loss of Life Disability |
Loss of Life |
- Can protect up to two borrowers
- Protection for loss of life, disability, and involuntary unemployment
- Cancels the loan balance up to $100,000 in the event of death up to age 70; on/after age 70, 25% of the balance is canceled, up to $25,000
- Provides up to 12 months or $12,000 of disability protection
- Provides up to 3 months or $1,500 of involuntary unemployment protection
- Can protect up to two borrowers
- Protection for loss of life, disability, and involuntary unemployment
- Cancels loan payments up to 12 months or $12,000 in the event of death up to age 70; on/after age 70, 25% of the balance is canceled, up to $25,000
- Provides up to 12 months or $12,000 of disability protection
- Provides up to 3 months or $1,500 of involuntary unemployment protection
Disclosure:
This is a summary of our Payment Protection program. Enrollment in the program is voluntary and not required to obtain
a loan. Payment Protection is a debt protection product available through Veridian Credit Union. Please contact
your Veridian Credit Union loan representative, or refer to the Payment Protection Contract for additional information
on benefit maximums, eligibility and limitations.
CDCL-0811-8DE1
If you are interested in receiving more information on Payment Protection, email or call (319) 236-5698.
