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Borrower Security, A Loan Payment Protection Program

Debt Protection

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Debt Protection

Financial protection for you and your loved ones.

Life events, such as death, disability and involuntary unemployment, can cause financial hardship, making bill-paying difficult. You can create a safety net with Debt Protection,* a voluntary loan payment protection product that helps you get relief from the financial burden of delinquency, default, or foreclosure if a protected life event happens to you. Simple eligibility requirements ease the enrollment process.

How does it work?

If a protected life event happens to you (and you’re a protected borrower or co-borrower on the loan), SESLOC debt protection will cancel or reduce repayment of your loan debt. Protected events can include:

  • Loss of life, including those caused by acts of war
  • Disability, including those caused by acts of war
  • Involuntary unemployment

Why should I enroll?

  • It’s easy: Simple to apply for, and takes effect immediately.
  • It’s budget-friendly: Comfortably fits into your monthly payment.
  • It puts you at ease: Rest easy, knowing you’re taken care of in so many problem situations

Debt Protection helps to ease your worries during a time when your income may be reduced or lost. Protect your loan…because Life Happens. Ask a SESLOC Member Service Representative to provide complete details.

Less than 10% of disabling accidents and illnesses are work related. The other 90% are not, meaning Workers’ Compensation doesn’t cover them (Council for Disability Awareness, Long-Term Disability Claims Review, 2010).

*Your purchase of Debt 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 Debt Protection. 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.

Have questions?

Visit any branch or call us at  (805) 543-1816.

PEOPLE ARE MORE IMPORTANT THAN PROFITS

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SESLOC News

From the News+ Blog

SESLOC Cares for Community Award: Candice Monge

SESLOC Cares for Community Award: Candice Monge

We’re partnering with News Channel 12 to honor nonprofit volunteers who make our community thrive. Each month, we’re choosing a different nonprofit and asking them to select a valuable volunteer to receive the SESLOC Cares for Community Award. We’re thrilled to introduce Candice Monge, from CALM.

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