Insurance

Help Protect Your Loan Payments When Life Takes an Unexpected Turn

An unexpected job loss, disability, or death can make an already difficult situation even harder financially. Member’s Choice™ Borrower Security is optional debt protection designed to help reduce that financial burden. Depending on the protection selected and the terms of your agreement, it may cancel or reduce your eligible loan balance or payments, up to contract maximums, following a covered event.

Protection may be available for:

Involuntary Unemployment
May cancel eligible loan payments when a covered job loss occurs.

Disability
May cancel eligible loan payments when a covered disability occurs due to illness or injury.

Death
May cancel an eligible loan balance when a protected borrower passes away.

Things to Know

• Participation is optional and does not affect your loan approval.
• Coverage is subject to eligibility requirements, contract maximums, exclusions, waiting periods, and other terms and conditions.
• Members will receive an agreement describing the protection, costs, conditions, and exclusions.
• The protection may be canceled at any time. If canceled within the first 30 days, fees already paid are refunded, subject to the terms of the agreement.

Want to Know Whether Borrower Security Is Right for Your Loan?

A Democracy FCU representative can explain available protection, costs, eligibility requirements, exclusions, and other terms.

call us on your mobile device to learn more
Or call 202-488-5400

See your Member’s Choice Borrower Security agreement for complete terms, conditions, eligibility requirements, exclusions, waiting periods, and cancellation provisions.