Sierra Central Loan Protection is a voluntary debt protection product that can help when the unexpected hits. With Loss of Life, Accidental Disability and Involuntary Unemployment protection, every eligible member pays the same group fee. And, you only buy enough protection to cover your loan balance. Tying protection directly to your loan means that you’ll have exactly the right amount of protection – no more, no less.
Here are Sierra Central Loan Protection plan options:
Loss of Life Protection- Balance Cancellation
Cancels your eligible consumer loan balance or credit card balance up to the agreement maximum, should you die before paying off your loan.
Disability Protection – Payment Cancellation
Cancels your monthly loan payment, up to the agreement maximum if you become disabled due to a protected illness or injury. Payment cancellation means that if you’re disabled, both the principal and interest portion of your loan payment is cancelled, up to the agreement maximum.
Involuntary Unemployment & Family Leave– Payment Cancellation
Cancels your monthly loan payment, up to the agreement maximum, if you are involuntarily unemployed or take Family Leave.
Other Benefits include:
For more details or to obtain a copy of the member agreement, visit any Sierra Central branch location.
*Sierra Central Loan Protection is a voluntary debt protection product available through Sierra Central Credit Union.