No one ever expects to get into a car accident on their way to work or to be faced with an illness or injury resulting in hefty medical bills. That's why we insure ourselves in order to protect against a possible financial disaster. Debt Protection, offered by CU Community Credit Union, helps relieve the financial stress and worry related to making loan payments when your life takes an unexpected turn.
Involuntary unemployment: In the event of job loss, Debt Protection can make your loan payments while you look for work.
Loss of life: The loan balance can be paid off completely, freeing up whatever life insurance coverage you may have to go toward your family's day to day living expenses.
Disability: In the event of disability, your monthly loan payment can be paid for you while you are unable to work.
What will happen to your ability to pay your loan payments if an income is lost due to layoff or unexpected termination? What if you became injured and had to have a surgery that required you to be home from work for a month or longer? Would you be able to comfortably make your loan payments? Often, people faced with these situations are forced into a circumstance where they can no longer make their payments, resulting in damaged credit, defaulting on loans, losing their vehicles and/or homes or even bankruptcy. Had they only had a few hundred extra dollars per month to make their payments, the situation could have been avoided. That is where our Debt Protection can be a lifesaver for you and your family.
As the person who handles all of our debt protection claims, I get to personally see how these products save people from potential financial disasters every day. So, I urge you to always ask yourself the “what ifs”! You never know what may happen, and as we all know, peace of mind is priceless.