Debt Protection

Stuff Happens

Whether you’re taking out a loan to make home improvements or to 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 unexpectedly die, leaving your family responsible for your loan balance(s). 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.

Did You Know…

Approximately 22% of U.S. families with dependent children admit that they have problems with handling everyday expenditures and another 26% admit that if the main provider of income dies unexpectedly, they would not be able to cover their everyday expenses.

(Life Insurance – An investment that should not be overlooked, 2010)

Less than 10% of disabling accidents and illnesses are work related. The other 90% are not, meaning that Workers’ Compensation doesn’t cover them.

(Council for Disability Awareness, Long-Term Disability Claims Review, 2010)

In February 2011, the number of longterm unemployed (those jobless for 27 weeks or more) was 6 million and accounted for 43.9% of the unemployed.

(Economic Releases, The Employment Situation, February 2011)

Coverage Tailored for you

Choose Gold, Silver and/or Bronze coverage categories for: Auto Loan Credit Card Consumer Loan Home Equity Loan
Gold – Protects in the event of: Loss of life, including those caused by acts of war. Disability, including those caused by acts of war Involuntary unemployment Silver – Protects in the event of: Loss of life, including those caused by acts of war. Disability, including those caused by acts of war. Bronze – Protects in the event of: Loss of life, including those caused by acts of war

See a Financial Services Representative for pricing on Gold, Silver, and Bronzen coverage for each of your qualified debts.

Help Play it Safe

Kirtland Federal Credit Union’s 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 ease the enrollment process.

If a protected life event happens to you (and you’re a protected borrower or co-borrower on the loan), Kirtland Federal Credit Union’s Debt Protection* will cancel or reduce repayment of your loan debt—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
• Involuntary unemployment

*Kirtland Federal Credit Union’s Debt Protection is a debt protection product offered by Kirtland Federal Credit Union. Enrollment in this debt protection product is voluntary and not required to obtain a loan. Please contact a Kirtland Federal Credit Union loan officer for additional information on benefit maximums, eligibility, limitations, and a copy of your contract. DPGAP-0411-06C5