Taking out a TCU loan means at least one of your dreams is about to come true.
Perhaps you’re getting a new vehicle, you’ve found the perfect living room
furniture, or you’re at a point where you can revamp the rec room. It’s a
special purchase that you’ve carefully thought about and have financially
planned.
But have you given that same level of thought to an emergency payment plan,
should you find yourself unable to make your loan payments? How, exactly, would
your family shoulder your loan commitment if for some reason you lost your
income-earning ability?
Member-Valued Protection (MVP)
We have a voluntary “just in case” plan that may ensure you never lose
a night’s sleep over keeping up with your loan payments, should the unexpected
occur.
If you qualify and your loan is eligible for MVP, you may select one of three
protection packages to ensure your peace of mind. The cost varies by plan and
can be conveniently rolled into your loan agreement to become part of your
monthly payment.
Should your payment protection be needed due to a covered illness or injury,
MVP will cancel the principle and interest portions of your monthly loan payment
up to the agreement maximum. For loss of life, it will cancel your outstanding
loan balance, up to the agreement maximum.
Benefits and features summary
- Protects your credit rating and collateral
- Immediate coverage for eligible borrowers
- Simple eligibility requirements
- Fast and easy enrollment
- Protection cost can be rolled into your payment
Select Your MVP Option
Consumer loan or credit card protection
Pick a plan that makes you comfortable; one that will ensure your peace of mind
about managing the unexpected. Then, talk to your TCU loan representative about
adding the cost of the plan to your loan agreement.*
|
Option 1 |
Option 2 |
Option 3 |
|
Involuntary |
Disability |
Death |
|
Unemployment |
Death |
|
|
Disability |
|
|
| Death |
|
|
Involuntary unemployment cancels your monthly loan payments for up to
six consecutive months, up to a maximum of $3,000.
Disability cancels your monthly loan payments for up to 12 consecutive
months or to a maximum of $12,000 if you become disabled by a covered illness or
injury during the term of the loan.
Death cancels your outstanding, eligible loan balance up to $50,000.
This payment protection is available for up to two borrowers per loan.
| *Cost varies by the loan product and MVP option
selected.
This is a summary of our MVP program. Enrollment
in the program is voluntary and not required to obtain a loan. MVP is a
debt cancellation product available through Travis Credit Union. Please
contact a TCU representative or refer to the member agreement for
additional information on benefit maximums, eligibility and limitations.
B2ML-1106-3CC4 |
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