At CU SoCal, we know you've worked hard for what you have.

Get the protection you deserve by adding Loan Payment Protection to your loan. When you're unable to rely on your paycheck, this optional coverage through CUNA Mutual Group will help maintain your family's standard of living by relieving the financial burden of your loan payments.1

Live life confidently knowing you and your family are protected.

Helps protect credit rating
Helps protect collateral
(car, home, etc.)
Helps maintain standard of living
Prevents late fees

Customize your coverage to fit your need.

Borrowers and co-borrowers may select one, two, or all three of the covered events.

Unemployment
Covers your loan payments for up to 6 months (or covers up to $6,000 per occurance) if you lose your job unexpectedly. Benefit is eligible 3 months after the date of loan or advance.
Disability
Covers your loan payments for up to 12 months (or up to $12,000 per occurance) if you become unfit for work due to sickness, injury or disease. Benefit is eligible immediately after the date of loan or advance or 6-months after the date of loan or advance for individuals with a pre-existing condition.
Death
Cancels the full balance of the loan at the date of your death up to $50,000.2 Benefit is eligible immediately after the date of loan or advance or 6-months after the date of loan or advance for individuals with a pre-existing condition.

Common Questions

The cost to add Loan Payment Protection is based on the level of protection you select and is automatically scaled each month based on the remaining balance and term of your loan. For your convenience, the Loan Payment Protection fee is applied to your monthly loan balance.
​Loan Payment Protection is available as an optional add on to CU SoCal Auto Loans, Personal Loans, and Lines of Credit at the time of application. All borrowers and co-borrowers are eligible to add Loan Payment Protection as long as they're working 25 hours or more per week. Borrowers who may have pre-existing medical conditions are also eligible with no medical screening required.

 
You may cancel Loan Payment Protection at any time during the life of a loan by providing us with a written notification. And, if you decide to cancel protection within the first 30 days after purchase, we'll refund any program fee that may have been charged to the loan during those 30 days.
Benefits are paid directly to your loan in the event of a claim.

Building Better Lives

Credit Union of Southern California (CU SoCal) is a leading financial institution empowering those who live, work, worship, or attend school in Orange County, Los Angeles County, Riverside County, and San Bernardino County to reach their goals and build strong financial futures. CU SoCal provides access to convenient money management services and offers competitive rates and flexible terms on auto loans, mortgages, and VISA credit cards—turning wishing and waiting into achieving and doing.

 

562.698.8326 | 866 CU SoCal Se Habla Español

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