MEMBER’S CHOICE Borrower’s Security
Help protect your loan & preserve your standard of living with MEMBER’S CHOICE Borrower’s Security!
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, which could leave 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!
MEMBER’S CHOICE Borrower’s Security 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. Simple eligibility requirements help ease the enrollment process.
Protection that matters.
If a protected life event happens to you (and you’re a protected borrower or co-borrower on the loan), MEMBER’S CHOICE Borrower’s Security will cancel or waive your loan payment(s), up to the contract 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.
Protected events include:
- Loss of life, including those caused by acts of war;
- Disability, including those caused by acts of war; or
- Involuntary unemployment .
To sign up for MEMBER’S CHOICE Borrower’s Security or to learn more by CONTACTING US today!
Your purchase of Debt 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 MEMBER’S CHOICE Borrower’s Security. 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-0813-E0F2, © CUNA Mutual Group 2014, All Rights Reserved.
Source: 1. Social Security Administration, Fact Sheet, June 2013. 2. Bureau of Labor Statistics, Databases, Tables and Calculators by Subject, June 2013.
« Go Back