Debt Protection, Glossary and Terms, Depository Institutions & Credit Unions
List of United States Depository Institutions, Credit Unions, Guide Service
"Debt Protection" - Depository Glossary Terms and Abbreviations
A protection plan that helps cancel payments or pays off loans entirely if the unexpected happens. A variety of plans are available to cover different events, such as death, disability, involuntary unemployment, and family medical leave of absence. Members pay a monthly fee for any protection plan they choose and this fee is wrapped into their loan payment. Debt Protection can be a great way to give one's family peace of mind at a hard time.