Debt Protection
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.
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SESLOC News
From the News+ Blog
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.
SESLOC Awarded National Award for “Most Appreciative Staff”
SESLOC has once again been recognized as a leading credit union that consistently provides an exceptional member service by MemberXP, a member experience solution from CU Solutions Group.
SESLOC Announces New SVP/Chief Information Officer
SESLOC Credit Union announced today that Shawn Mulqueeney has been selected as the new Senior Vice President/Chief Information Officer. The former CIO, Ken Long, has accepted a new role of Senior Vice President/Chief Risk Officer at SESLOC.