Signature and Secured Loans

Sierra Central Loan 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 unexpectadly happens to you. Simple eligibility requirements help ease the enrollment process.


Here are Sierra Central Loan Protection plan options

Consumer Loan Protection

  • Protects up to two borrowers per loan for the same rate.
  • Cancels the loan balance up to $100,000 in the event of death.
  • Cancels your loan payments for up to 12 months or $12,000 for disability.
  • Cancels your loan payments for up to six months or $3,000 if you are involuntarily unemployed.
  • Cancels your loan payments up to 3 months or $1,500 if you are on an unpaid family leave.

Credit Card Protection

  • Protects up to two borrowers per loan for the same rate.
  • Cancels your credit card balances up to $50,000 in the event of death.
  • Cancels your loan payments for up to 6 months or $3,000 if you are involuntarily unemployed.
  • Cancels your loan payment for up to 12 months or $12,000 for disability.

Benefits of the plans

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. Loss of life, including those casued by acts of war.

Disability Protection – Payment Cancellation

Cancels your monthly loan payment, up to the agreement maximum if you become disabled due to a covered 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. Disability, including those caused by acts of war.

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

  • Simple eligibility requirements
  • Fast and easy enrollment
  • Immediate protection for eligible borrowers
  • Fee included in payment
  • 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 loan-payment protection product available through Sierra Central Credit Union.