MVP is voluntary payment protection that you can add to an eligible loan. It assists you in making payments during a financial hardship.
Eligible protected events include involuntary unemployment, disability and loss of life. If a covered event occurs, MVP will make the monthly loan payment, including principal and interest, up to the agreement maximum. For loss of life it will cancel your outstanding loan balance, up to the agreement maximum.
MVP is available for up to two borrowers per loan on consumer loans and credit cards. Protection is not available for first mortgages, second mortgages and home equity line of credit. If you qualify and your loan is eligible for MVP, you may select from one of the three protection package options. The cost varies by plan and can be added into your loan agreement to become part of your monthly payments.