Fedchoice Federal Credit Union - Altogether Better



Debt Protection

Protection From The Unexpected – At A Rate You Can Afford
You may worry about unexpected, real-life events that could leave you scrambling to pay your monthly bills. Debt Protection can help relieve financial pressure in the event of death, disability or involuntary unemployment.

With Debt Protection, your loan balance will be cancelled without penalty or added interest. You benefit from the peace of mind knowing you and your credit rating are protected.

Debt Protection is available for:

  • Consumer Loans - Closed-end consumer loans; open-end consumer credit plans and unsecured lines-of-credit; credit cards.
  • Home Equity Loans - Closed-end home equity loans (e.g., second mortgages); and home equity line-of-credit plans.

There are eligibility requirements, conditions and exclusions that apply to this program. Please contact us for additional details about the Debt Protection program.

Cancel Any Time
You may cancel Debt Protection at any time. If you do so within the first 30 days, we will refund any fees already paid.

A Benefit For You
We’ve designed our Debt Protection program to fit the times we live in today. More than ever, we all worry about things that might happen tomorrow. Debt Protection provides an important sense of financial security – knowing your loan will not become a burden to you in times of hardship. Please consult with one of our Financial Service Advisors to discuss our Debt Protection program in more detail.

This product is optional. Your purchase of debt protection is optional. Whether or not you purchase this product will not affect your application for credit or the terms of any existing credit agreement you have with us.
Additional disclosures
We will give you additional information before you are required to pay for debt protection. This information will include a copy of the contract containing the terms and conditions of debt protection.
Eligibility requirements, conditions and exclusions
There are eligibility requirements, conditions and exclusions that could prevent you from receiving debt protection benefits. You should carefully read your debt protection contract for a full explanation of the terms and conditions of the debt protection program.

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