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safeguard what matters with debt protection

life is unpredictable
There are a wide range of unexpected events that could leave you and your family scrambling to pay monthly bills.  That's why it is important you take action to safeguard your family against these types of events to help ensure loan payments can be made on time.  That's where First Heritage Federal Credit Union Debt Protection comes in.

Under the Debt Protection program, your loan balance may be canceled, or your monthly loan payments canceled, without penalty or added interest.  You benefit from the peace of mind knowing you and your credit rating are protected-and most importantly-that your family is protected.  

Availability and plan options
Debt Protection is available for closed-end consumer loans, consumer line of credit, credit cards, closed-end home equity loans (i.e., second mortgages) with terms of more than 120 months, and home equity loans.  Choose from the plan options listed below:

Definitions of coverage
If you meet eligibility requirements and conditions, Debt Protection will provide the following benefits:

Death: Helps your family get back on their feet financially with the cancellation of your loan
  • Plans 1, 2, 3 & 6: Cancels the remaining loan balance as of date of death (up to $75,000)
Disability: Cancels your loan payments for a period of time as you regain your health
  • Plans 1, 2, 3, 4 & 5: Cancels up to 12 payments per occurrence (aggregate maximum of $15,000, up to $1,000 per month)
Involuntary Unemployment: Helps ensure your loan payment will be taken care of as you search for new employment.
  • Plans 1 & 4: Cancels up to 3 payments per occurrence (aggregate maximum $15,000, up to $1000 per month)

Designed with you in mind
More than ever, we all worry about things that might happen tomorrow.  Debt Protection provides an important sense of financial security-knowing your loan will not become a burden to you in times of hardship. 

Cancel at any time
You may cancel Debt Protection at any time.  If you do so within the first 30 days, we will refund any fees already paid. 

This product is optional. Your purchase of debt protection is optional. Whether or not you purchase this product will not affect your application for credit or the terms of any existing credit agreement you have with us.

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.

Securian Financial Group, Inc.
400 Robert Street North, St. Paul, MN 55101-2098
©2019 Securian Financial Group, Inc. All rights reserved.

F79378 Rev 4-2019 DOFU 4-2019