As a member of Fremont Federal Credit Union, you have the chance to enroll in this optional program. Not sure if it’s right for you? Stop by a branch—we’d love to answer your questions.
| Protection for Consumer Loans | Life Plus | Disability | Involuntary Unemployment |
|---|---|---|---|
| Type of cancellation | Balance cancellation* Payment cancellation** | Payment cancellation | Payment cancellation |
| Maximum benefits | Up to $100,000* The earliest of 3 months or $3,000** The maximum benefit will reduce at age 70 | The earliest of 12 months or $12,000 per occurrence | The earliest of 6 months or $6,000 per occurrence |
| Waiting periods1 | N/A | 14-day retro for a protected event | 14-day retro for a protected event |
| Specified period limitation2 | 6-month pre-existing condition limit | 6-month pre-existing condition limit | 3-month benefit exclusion from date of loan or advance |
Please refer to the contract for complete terms and conditions of the program as additional eligibility requirements, conditions, and exclusions apply.
1 With Retro plans, after satisfying the waiting period, benefits begin from the first day of loss. With Non-Retro plans, benefits begin after the waiting period has been satisfied. Refer to the contract for complete details.
2 Under the contract terms, there are specific limitations for events that occur within a specified period immediately following the Effective Date of Protection for a loan or advance. Refer to the contract for complete details.
* Applies to Life, Terminal Illness and Accidental Dismemberment
** Applies to Hospitalization, Family Medical Leave and Loss of Life of a Non-Protected Dependent
* Pre-existing conditions and certain benefit exclusions may apply. Must complete “Statement of Insurability” when adding after 30 days of the date of the loan for both Credit Life and Credit Disability. Refunds are not applicable because premiums are paid monthly. Cancellations must be in writing and become effective the first day of the following month.
