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.
PEOPLE ARE MORE IMPORTANT THAN PROFITS
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SESLOC News
From the News+ Blog
SESLOC Cares for Community Award: Melissa Ward
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 Melissa Ward from 17 Strong.
SESLOC Celebrates $50,000 in Save to Win Prizes to Members
We’re celebrating a major milestone in helping our members achieve their financial goals. Since launching the 12-month Save to Win Share Certificate¹ in November 2019, nearly 800 SESLOC members have won a combined $50,000 by opening an account with at least $25!
SESLOC Earns Third Consecutive SLO County Family-Friendly Workplace Award
For the third consecutive year, SESLOC is recognized as one of the best workplaces for families! We’re proud to announce our BLUE Diamond award from San Luis Obispo County Family-Friendly Workplaces for creating a family-friendly culture for all of our employees.
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Savings are insured to at least $250,000 and backed by the full faith and credit of the U.S. government. National Credit Union Administration, a U.S. government agency.
