Rest easy about loan payments during unexpected circumstances.

A loan payment is the last thing you want to think about when an unfortunate event transforms your financial situation. Here’s how Payment Protection from OCCU has you protected:

 

Add Payment Protection

When you’re approved for a loan with OCCU, you’ll have the option of adding Payment Protection on qualifying loans at any time.

Unexpected event occurs

Hopefully none of these events occur in your near future, but loss of life, a disability or job loss can happen at any time.

Give OCCU a call

Reach out to us when a qualifying event makes it difficult to pay your loan. We’re here to help.

Get payments protected

Depending on the event, we may be there for you and your loved ones for the entire loan or until you recover.

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When Diane unexpectedly lost her husband, she called OCCU to see if she could skip a payment on her RV loan due to the hardship. She was suprised and gratefuel that her loan balance of $23,032 was cancelled because she had Payment Protection
Amanda had been out of work for three months after taking a tumble down a set of stairs. Thankfully, she had Payment Protection on her motocycle loan , which covered her monthly payment until she was able to get back to work, allowing her to focus on healing.

Payment protection features

Protects unexpected unemployment

If you lose your job due to events outside your control, Payment Protection may cancel your payments for up to six months or $7,500 on the loan.

Safeguards in the event of death

If the loss of a loved one who opted for protection impacts your ability to make payments on a loan, you could have the entire balance of the loan cancelled up to the contract maximums.

Protects against disability

In the event of a disabling illness or injury that threatens your financial stability, your loan payment may be cancelled for up to 12 months or $15,000 on the loan. 

Adds protection for life events

Life Plus adds protection for life events such as accidental dismemberment, terminal illness, hospitalization, family medical leave, or the loss of life of a non-protected dependent. Speak to an OCCU representative for details.

Is Payment Protection right for you?

There are many factors that make Payment Protection a wise investment for certain vehicle owners including:

  • The size of your loan
  • Your income and savings
  • Eligibility requirements
  • Cost of plan
Protection type

Have questions?

Want to learn more about Payment Protection? Let’s connect!