Payment Protection Plus

Payment Protection Plus


               

Taking out a loan usually means one of your dreams is about to come true, such as finally purchasing a new car, taking a long awaited trip or making home improvements.

But what happens to your dream when the unexpected hits? How can you make sure your family won’t shoulder the financial burden of making loan payments when you can’t? With HV Payment Protection Plus, you can protect you and your family from the possibility of future financial hardship.

What is Payment Protection Plus?

At Heritage Valley FCU we realize that unforeseen events can occur in an instant, so we offer our members an optional debt cancellation program known as HV Payment Protection Plus.  

This unique program takes care of your loan payments should you become involuntarily unemployed, disabled or experience loss of life. Best of all you only purchase enough protection to cover your loan balance which makes the program extremely affordable. 

What are the benefits of Payment Protection Plus?

  • Helps avoid missing loan payments and protects your credit rating

  • Easy enrollment and eligibility requirements

  • Financial peace of mind for cents a day that preserves your standard of living 

  • Immediate coverage for eligible borrowers

  • Cost is included with your loan payment 

How does Payment Protection Plus work?

If a protected life event happens to you or a protected co-borrower on your loan, HV Payment Protection Plus will cancel the principal and/or interest up to the agreement maximum. Help lessen the worry of paying loans during a time when your income has been reduced and/or lost and when paying other household bills can become a challenge. 

What are protected life events?

  • Loss of life

  • Disability

  • Involuntary unemployment

How do I protect my loans?

It's simple! Contact us to ask about protecting your loans TODAY!

What loan types can be covered?

  • Consumer loans: Autos, Boats, Motorcycles, Personal and RV’s

  • Home Equity loans: Second mortgages, Home Equity and Home Equity Lines of Credit

  • Credit Cards: HV Platinum VISA 


*Your purchase of HV Payment Protection Plus is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of HV Payment Protection Plus. You may cancel the protection at any time. If you cancel protection within the first 30 days of taking out a new loan, you will receive a full refund of any fee paid for that protection.