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Payment protection
Peace of mind for you and your family
Keep your loan payments protected, even if you experience a major hardship
Payment Protection helps ensure that your Global Credit Union loans and credit card obligations don’t become a hardship for your family if you become disabled or unemployed, or if you pass away unexpectedly.
You can enroll in Payment Protection when you first take out your loan or enroll later for a loan that you already have. Payment Protection is available for Global credit cards and consumer loans
Give us a call at 833-496-7304 or stop by any branch and we’ll walk you through your coverage options.
A variety of plans are available to suit your needs.
LifePlus, Disability, and Involuntary Unemployment – Cost Per $1,000 of the monthly outstanding loan balance is $3.25 for a single borrower or $4.50 for two borrowers.
LifePlus and Disability – Cost per $1,000 of the monthly outstanding loan balance is $2.36 for a single borrower or $4.01 for two borrowers.
Disability – Cost per $1,000 of the monthly outstanding loan balance is $1.57 for a single borrower or $2.71 for two borrowers.
LifePlus – Cost per $1,000 of the monthly outstanding loan balance is $0.79 for a single borrower or $1.35 for two borrowers.
LifePlus and Disability – Cost per $1,000 of monthly outstanding balance is $2.84 for up to two cardholders.
Payment Protection may cancel 100% of your loan balance up to $100,000 if you pass away before your 70th birthday or 25% of your loan balance up to $25,000 if you pass away after your 70th birthday, according to the plan terms.
If you become disabled, the plan may cancel your payments for up to 24 months or $24,000 beginning on the 31st day of disability.
If you become unemployed involuntarily, the plan may cancel your payments for up to 6 months or $6,000 per period of unemployment.
Protection varies per qualified event.
No medical exam is needed to enroll.
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Your purchase of Payment Protection is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions and exclusions may apply. Please contact your loan representative or refer to the Member Agreement for a full explanation of the terms of Payment Protection. You may cancel the protection at any time. If you cancel protection within 30 days from the date protection began, you will receive a full refund of any fee charged. DP-4840537.1-0722-0824 Cuna Mutual Group© 2022, All Rights Reserved.