Benefit Package
Ineligible Credit Cards for loan assure
What is Business Rewards?
If the protected event continues more than 30 days, benefits begin on the 31st day following the protected event.
What is 30-day elimination period (30NR)
This package is only available for credit cards
What is Shield?
Borrowers must be actively working, for wages or profit X hours or more per week on the Effective Date of Protection
They should contact the credit union and change their Loan Assure coverage so they are no longer paying for coverage that they are not eligible for.
What is voluntary unemployed/retired members?
This proctection is not available under the Shield package for Home Equity
What is Life Plus?
The Borrower must (a) meet the definition of Disability for at least 30 consecutive days; and (b) not be actively working at any job or combination of jobs paying an income equal to or exceeding 80% of the income being earned from the Borrower’s Active Employment immediately preceding the date the Borrower qualified
What is disability qualifications?
Loan Assure is not offered on
What is 1st mortgage or high-priced equities?
Not available on Home Equity products
What is Protect?
Protected Payment for 6 months up to a maximum of $6,000 on Home Equity and up to a maximum of $3,000 on all other products
What is Involuntary Unemployment benefit max?
if the outstanding Loan balance is greater than X, the rate will not apply to the amount that exceeds X.
what is $100,000?
This loan is not eligible for the Loan Assure
What is HELOC?
This period of wait to access benefits applies to the disability and involuntary unemployment under shield
What is disability and Involuntary Unemployment ?
what are minimum requests?