Debt Protection

  • Peace of mind for you, financial protection for your loved ones
  • Cancels or reduces loan payments, depending on the covered event
  • Reduces your risk of defaulting on a loan
File a Claim

Keep Your Finances Stable During Times of Crisis 

Any interruption to your job or ability to work could make it difficult to keep up with loan payments. Debt Protection eases some of that burden in the event of involuntary unemployment or tragedies such as a disabling accident or death. 

Ask a BHFCU employee about specific coverage details.

Why Debt Protection Might be Right for You
  • Helps protect your credit rating by ensuring you don’t default on a loan
  • Easy automatic monthly payment to give you peace of mind
  • Reduces your financial risk, alleviating worry
Why Debt Protection Might be Right for You
  • Helps protect your credit rating by ensuring you don’t default on a loan
  • Easy automatic monthly payment to give you peace of mind
  • Reduces your financial risk, alleviating worry
What's Covered
  • Loss of life: Cancels the outstanding loan balance up to a specified dollar amount
  • Disability: Cancels up to a specific number of monthly payments
  • Involuntary unemployment: Cancels up to a specific number of monthly payments
Who's Eligible

You must meet the following to qualify for debt protection:

  • In the last two years, you haven’t been advised of, treated for, or taken any medication for heart attack (or other heart disease or disorder), coronary artery disease, cancer, stroke, cirrhosis, AIDs, or had a positive HIV test
  • Under 70 years old
  • Presently working 25 hours or more per week
  • Not self-employed
What You Should Know 
  • This is entirely optional coverage, and it won’t affect your application for credit
  • You can cancel anytime. If you cancel within 30 days, any fees paid will be refunded
  • Involuntary unemployment that occurs within 90 days after enrollment will not be covered
  • Plan benefits are subject to plan specific maximums
Start the Claims Process
Click the "File a Claim" link or call the claim center at 1-800-328-9442
Continue making loan payments until a claim decision is communicated to you
Access your claim information and status at securian.com/benefits
File a Claim

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Disclosures:

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.

The Contractual Liability Policy is issued by Securian Casualty Company, a New York authorized insurer. Minnesota Life Insurance Company acts as the administrator of the debt protection program. Product availability and features may vary by state.

Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries. Minnesota Life Insurance Company is a subsidiary of Securian Financial Group, Inc.

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