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Real Protection for Real-Life Events

Debt Protection Eases Your Loan Payments, Protects Your Family and Safeguards Your Credit Rating.

Protect yourself
If you're like most people, you may be worried about unexpected, real-life events that could happen during the term of your loan. Things such as losing your job or getting injured that may leave you scrambling to pay your monthly bills.

Your Credit Union offers Debt Protection which can relieve the pressure of your loan payments during certain unexpected events.

Debt Protection protects you, your family and your credit rating. You have the peace of mind knowing your monthly loan payments will be cancelled in the event of death, disability and involuntary unemployment

We've designed our Debt Protection program for you because it fits the times we live in today. More than ever, we all worry about things that might happen tomorrow. Debt Protection provides an important sense of financial security - letting you worry less and sleep a little better at night.

Smart financial security because...
Life is unpredictable. Debt Protection, offered by your Credit Union, helps relieve the financial stress and worry related to making loan payments when your life takes an unexpected turn.

Debt Protection is available on all consumer loan products. Here's how Debt Protection works. Your consumer loan payment* will be cancelled without penalty, added interest, or being reported as delinquent to the credit bureau when one of the covered events occur

• Death - gives your family time to get back on its feet financially.
• Disability - helps you avoid bills piling up as you try to regain your health and earning capacity. Use as a supplement to any disability coverage you may have at work (which usually covers only 60 percent of pay).
• Involuntary Unemployment - gives you assurance during a difficult time that one of your major monthly expenses will be taken care of as you search for new employment.

Debt Protection*

• Death - cancels card balance as of date of death, up to $50,000.
• Involuntary Unemployment - if you lose your job, we will cancel up to six monthly loan payments per occurrence - up to $750 per month - while you look for work. Maximum benefit is twelve payment cancellations during loan term - for a maximum of $9,000. Protection becomes active after a 180-day waiting period.
• Disability - if you are disabled and unable to work during loan term, this plan cancels your scheduled monthly loan payment up to $750 per month - for up to 120 months or the remaining loan term to a maximum of $50,000. You must be unemployed outside your residence for at least 20 hours per week at time of disability.

Cost: Combined Life, Disability and Involuntary Unemployment

Single Protection: protects the primary borrower $4.81 per $1,000 of outstanding loan balance.
Joint Protection: protects borrower and co-borrower: $7.26 per $1,000 of outstanding loan balance.

Cost: Life and Disability Only

Single Protection: protects the primary borrower $2.78 per $1,000 of outstanding loan balance.
Joint Protection: protects borrower and co-borrower: $5.23 per $1,000 of outstanding loan balance

Monthly cost is based on your loan amount.
It is the same for every member, regardless of age (persons 66 and older are not eligible to apply). Your Debt Protection fee is added to your monthly loan payment.

**Eligibility
There are eligibility requirements, conditions and exclusions that apply to this program. For complete details, talk with one of our loan representatives. We can provide you with the Credit Union Debt Protection Agreement which provides complete details and answers to the most frequently asked questions about this product.

Disclosures

• This product is optional
  Your purchase of Debt Protection is optional. Whether or not you purchase Debt Protection will not affect your application for credit or the terms of any existing credit agreement you have with Saratoga's Community Federal Credit Union.
• Additional Disclosures
  We will give you additional information before you are required to pay for Debt Protection. This information will include a copy of the contract containing the terms and conditions of Debt Protection.
• Eligibility Requirements, Conditions and Exclusions
  There are eligibility requirements, conditions and exclusions that could prevent you from receiving Debt Protection benefits. You should carefully read your Debt Protection contract for a full explanation of the terms and conditions of the Debt Protection program.