Payment Shield Plus
Payment Shield Plus helps protect and preserve your family’s financial security by absorbing your monthly loan obligations if life takes an unexpected turn.
Here’s how it works:
Depending on the option you choose, Payment Shield Plus cancels your eligible loan balance up to the agreement maximum in case of your death, or cancels your monthly loan payment up to the agreement maximum if you become disabled or involuntarily unemployed. You can purchase enough protection to cover your loan balance and conveniently include the cost in your regular monthly payment.
With balance cancellation, the principle and interest portions of your loan balance are cancelled, and your loan balance is reduced or eliminated entirely.
With payment cancellation, both the principal and interest portions of your covered loan payments are cancelled, and your loan balance declines
Simple eligibility requirements and immediate coverage for eligible borrowers make Payment Shield Plus the smart choice for your consumer loans, and credit card accounts to a maximum of $750 per month.
- Protects up to two borrowers per loan for no additional cost.
- Cancels your outstanding loan balance up to $50,000 in the event of death.
- Cancels your monthly loan payments for up to 12 months or $12,000 if disabled by a covered illness or injury.
- Cancels your monthly loan payments for up to 6 months or $3,000 if involuntarily unemployed
Enjoy peace of mind knowing you’re protected in case of death, disability or involuntary unemployment. Please consult one of our representatives to discuss Payment Shield Plus by calling 714/258-4000 ext. 4389, Monday through Friday, 9 a.m. to 5 p.m.
Enrollment in the program is voluntary and not required to obtain a loan. Payment Shield Plus is a debt cancellation product available through SchoolsFirst FCU. Please consult an SchoolsFirst FCU loan specialist, or refer to the Payment Shield Plus contract for additional information on benefit maximums, eligibility, and limitations.
Payment Shield Plus Agreement
Contact an Insurance Specialist
Discuss your needs over the phone by calling
714/258-4000 or 800/462-8328 ext. 4389,
Monday through Friday, 9 a.m. to 5 p.m.
CA Insurance License 0581192