Payment Protection

A loan for your auto or other major purchase could represent a significant burden on your family if you were to become disabled or die. Not being able to make the loan payments could make a difficult situation even worse.

Payment protection is a voluntary debt cancellation program that cancels your loan balance or your monthly loan payment (depending on the package selected) in the event of disability or death up to the agreement maximum. Your outstanding loan balance can be canceled up to $100,000 for loss of life and your monthly loan payments can be canceled for up to $24,000 or 24 months in the event of disability. It is available to single and joint borrowers. The cost is based on the monthly outstanding loan balance and can be added to the monthly payment.