Get peace of mind with Debt Protection. Debt 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. Simple eligibility requirements help ease the enrollment process. Debt protection is available for all consumer loans at American First Credit Union.
If a protected life event happens to you (and you're a protected borrower or co-borrower on the loan), Debt Protection will cancel or reduce repayment of your loan debt. Help lessen your worries about paying loans during a time when your income may be reduced or lost.
Protected events include:
- Loss of life, including those caused by acts of war
- Disability, including those caused by acts of war
- Involuntary Unemployment
Please contact your Loan Representative or refer to the Loan Agreement for a full explanation of the terms of Debt Protection. Debt Protection is not federally insured, is not guaranteed or an obligation of the credit union, and may involve investment risk including possible loss of principal.