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PROTECT YOUR FAMILY AGAINST THE UNEXPECTED

Life can be wonderful. But it can also get complicated when unexpected things happen. Protecting your loan balance or loan payments against death, disability, or involuntary unemployment could help protect your finances.

This protection could cancel your loan balance or payments up to the contract maximums.
Protect your family against the unexpected.

Life Plus adds protection for life events such as accidental dismemberment, terminal illness, hospitalization, family medical leave, and the loss of life of a non-protected dependent. Protect your loan balance or loan payments today so your family can worry a little bit less about tomorrow. Purchasing protection is voluntary and won’t affect your loan approval. It’s simple to apply. Ask your loan officer about eligibility, conditions, or exclusions.*



In the event of.... DEATH Disability Involuntary Unemployment
What happens... Loss of Life
  • Protected borrower passes away

  • Disability
  • A covered disability occurs due to injury or illness
  • Involuntary Unemployment
  • A covered job loss occurs

  • It cancels this... 

    up to the contract maximums
    Loss of Life
  • Your payments or loan balance
  • Disability
  • Your loan payments
  • Involuntary Unemployment
  • Your loan payments
  • You may be eligible if you... Loss of Life
  • Have an eligible loan
  • Are a permanent employee who is actively working* Involuntary Unemployment
  • Are a permanent employee who is actively working*

  • Are honorably discharged. 
  • *Refer to the member agreement for a full explanation of terms and conditions. 


    Loss of Life Protection 
    Loan Protection can cancel your eligible loan balance or your monthly loan payments, up to the agreement maximum, should you die from a protected illness or injury before paying off your loan.

    Disability 
    If you become disabled due to a protected illness or injury, Loan Protection cancels your monthly loan payments, up to the agreement maximum. 

    Involuntary Unemployment
     
    If you become involuntarily unemployed, Loan Protection cancels your monthly loan payments, up to the agreement maximum. 

     

    Protection for Consumer Loans

    Loss of Life Disability Involuntary Unemployment
    Type of Cancellation Loss of Life
  • Balance Cancellation

  • Disability
  • Payment Cancellation

  • Involuntary Unemployment
  • Payment Cancellation

  • Maximum Benefits Loss of Life
  • Up to $75,000

  • The maximum benefit will reduce at age 70
  • Disability
  • The earliest of 12 months or $12,000 per occurrence
  • Involuntary Unemployment
  • the earliest of 6 months or $3000 per occurrence
  • Waiting Periods* Loss of Life
  • N/A
  • 14 Day Non-Retro for a Protected Event Involuntary Unemployment
  • 14 Day Non-Retro for a Protected Event
  • Specified Period Limitation** Loss of Life
  • 6-Month Pre-Existing Condition Limit
  • Disability
  • 6-Month Pre-Existing Condition Limit
  • Involuntary Unemployment
  • 6 month benefit exclusion from date of loan or advance


  • You can count on Loan Protection to step in when you and your family need help the most. And that means your dreams can go on and on - even when your income doesn't. Pearl Hawaii Federal Credit Union has several options available. Please visit any location or call 808-737-4328 (73-PHFCU) for more information. 

    Please refer to the Contract for complete terms and conditions of the program as additional eligibility requirements, conditions, and exclusions apply. 

    * With Retro plans, after satisfying the waiting period, benefits begin from the first day of loss. With Non-Retro plans, benefits begin after the waiting period has been satisfied. Refer to the Contract for complete details. 

    ** Under the Contract terms, there are specific limitations for events that occur within a specified period immediately following the Effective Date of Protection for a loan or advance. Refer to the Contract for complete details. 

    Your purchase of Debt Protection with Life Plus 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 Debt Protection with Life Plus. You may cancel the protection at any time. If you cancel protection within 30 days, you will receive a full refund of any fee paid.




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