Protects You and Your Loan – Preserve your standard of living
Whether you’re taking out a loan to make home improvements or buy a vehicle, it can be a financial gamble because things happen… life happens. You’re betting you can pay back your loan and you won’t lose your job (through no fault of your own), or become disabled (due to injury or illness), or pass away, leaving your family responsible for your loan balance. Life events can cause financial hardship, making bill-paying difficult. You don’t want delinquent payments and defaulted loans to cause you to lose your assets, negatively impact your credit rating, or cause financial distress for your family.
Help play it safe.
Patriot Protection* is a voluntary loan payment protection product that helps you get relief from the financial burden of delinquency, default, or foreclosure if a protected life event unexpectedly happens to you. Plus, simple eligibility requirements ease the enrollment process (must have a loan and be under the age of 70).
Protection that matters.
If a protected life event happens to you (and you’re a protected borrower or co-borrower on the loan), Patriot Protection will cancel or reduce repayment of your loan debt up to policy maximums – helping to lessen your worries and your family’s worries about paying loans during a time when your income may be reduced or lost and paying other household bills becomes challenging.
- Loss of life — Cancels or suspends the eligible loan balance in the event of member’s death.
- Disability — Cancels or suspends up to policy maximum in the event of total disability caused by covered injury or illness.
- Involuntary unemployment — Cancels or suspends up to policy maximum in the event of a layoff.
- Family leave — Cancels or suspends up to policy maximum in the event of taking approved family leave.
Contact us today if Patriot Protection is right for you. Call 717.263.4444 or 301.766.7328 or speak to a Patriot Membership Officer today!
*Your purchase of Patriot Protection is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of Patriot Protection. You may cancel the protection at any time. If you cancel protection within 30 days you will receive a full refund of any fee paid. DPGAP-0913-2DD7
Mechanical Repair Coverage
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Guaranteed Asset Protection Coverage
Protect your financial well being. Guaranteed Asset Protection (GAP), provided through CUNA Mutual Member Connect, pays the difference between your vehicle insurance company’s settlement and the remaining loan amount (directly related to the vehicle purchase), up to the maximums allowed by the credit union and/or state, in the event your vehicle is stolen or damaged beyond repair. Click here for more information.
Guaranteed Asset Protection Coverage Calculator