Debt Protection Consumer Product Sheet PDF

Alliance Catholic Credit Debt Protection Union 021-0955-6...

Alliance Catholic Credit Debt Protection Union 021-0955-6 Consumer Product Sheet Plans as of: 10/12/2024 Benefit Package Comparisons LifePlus Disability and Unemployment LifePlus Disability LifePlus Life Plus Life Plus Life Plus Balance Cancellation † Balance Cancellation † Balance Cancellation † Payment Cancellation ≠ Payment Cancellation ≠ Payment Cancellation ≠ Accident & Sickness Accident & Sickness Accident & Sickness Graded Benefits at Age of Death † Graded Benefits at Age of Death † Graded Benefits at Age of Death † Disability Disability Disability Payment Cancellation Payment Cancellation Not Applicable Accident & Sickness Accident & Sickness 14 day Waiting Period (14R) 14 day Waiting Period (14R) Involuntary Unemployment Involuntary Unemployment Involuntary Unemployment Payment Cancellation Not Applicable Not Applicable 14 day Waiting Period (14R) † Applies to death, Terminal Illness and Accidental Dismemberment ≠ Applies to Hospitalization, Family Medical Leave and Loss of Life of a Non-Protected Dependent Rates LifePlus Disability and Unemployment $0.499 per $100 LifePlus Disability $0.399 per $100 LifePlus $0.199 per $100 NOTE: Rate is applied to the outstanding Loan balance each month; however, if the outstanding Loan balance is greater than $100,000, the rate will not apply to the amount that exceeds $100,000. Protection Eligibility Disability: Borrowers must be actively working, for wages or profit 25 hours or more per week on the Effective Date of Protection* for the Advance. Involuntary Unemployment: Borrowers must be actively working, for wages or profit 25 hours or more per week on the Effective Date of Protection* for the Advance. Benefit Qualifications Disability: To qualify for Disability, the Borrower must (a) meet the definition of Disability for at least 14 consecutive days; and (b) not be actively working at any job or combination of jobs paying an income equal to or exceeding 80% of the income being earned from the Borrower’s Active Employment immediately preceding the date the Borrower qualified for Disability. Involuntary Unemployment: To qualify for Involuntary Unemployment, the Borrower must (a) meet the definition of Involuntary Unemployment for at least 14 consecutive days; (b) be receiving or has received state unemployment benefits for the period of unemployment for which the Borrower is requesting Protection Activation; (c) be seeking Active Employment; and (d) provide Us or Our Administrator with proof of qualification for Involuntary Unemployment protection at the time of Protection Activation and throughout the protected period. Benefit Types Balance Cancellation: Protected Balance is cancelled up to the maximum. See Benefit Maximums section. Payment Cancellation: All or a portion of the Protected Payment is cancelled, up to the maximum, and the Loan principal declines. See Benefit Maximums section. Causes Protected Accident & Sickness: During the first 6 months immediately following the Effective Date of Protection* for the Advance, protected events resulting from Accidental Injury are protected and Sickness not resulting from a pre-existing condition. After 6 months, protected events due to both Accidental Injury and Sickness are protected. When Benefits Begin 14 Day Waiting Period (14R): If the protected event continues more than 14 days, benefits are retroactive to the first day of the protected event. This product sheet is a quick reference document for credit union use only. Questions regarding product plans or information on this product sheet? Call 800.356.2644, Ext. 665.2000 TruStage™ is the marketing name for TruStage Financial Group, Inc. its subsidiaries and affiliates. DP-5460976.1-0223-0325 © TruStage REV (05/2023) Created on 10/12/2024 1 of 2  Non-Protected Events All Options: An event will not be protected under the Contract if it: is the result of a felony committed by the Borrower; is caused by or results from an atomic explosion or any other release of nuclear energy (except when used solely for medical treatment); is the result of an elective cosmetic surgery; is the result of an intentionally self-inflicted injury; is the result of an assisted suicide or an attempted assisted suicide; or occurs prior to the Effective Date of Protection. Life Plus: A death event (other than death of a Non-Protected Dependent) is not protected if it: occurs within the 6 months immediately following the Effective Date of Protection* for the Advance, and is related to a pre-existing condition for which the Borrower received advice, diagnosis, or treatment (including medication) within the 6 months immediately preceding the Effective Date of Protection* for the Advance; or is the result of suicide that occurs within the 12 months immediately following the Effective Date of Protection* for the Advance. An event (other than the Borrower’s death) will not be protected if the event occurs within the 3 months immediately following the Effective Date of Protection* for the Advance. Disability: Disability is not protected if it: occurs within the 6 months immediately following the Effective Date of Protection* for the Advance, and is related to a pre-existing condition for which the Borrower received advice, diagnosis, or treatment (including medication) within the 6 months immediately preceding the Effective Date of Protection* for the Advance; or is related to a normal pregnancy. Involuntary Unemployment: Involuntary Unemployment is not protected if it: includes any Annual, Regularly Scheduled, or Seasonal Layoff or any period of unemployment that occurs while the Borrower is a Temporary Employee, independent contractor, self-employed, or employed by a joint Borrower; includes any retirement, vacation, strike, unionized labor dispute, lockout, termination due to the Borrower’s Willful or Criminal Misconduct, voluntary unemployment, voluntary loss of wages, or spousal relocation; occurs within the 3 months immediately following the Effective Date of Protection* for the Advance. * Effective Date of Protection means the later of: (1) the date the Borrower purchased protection under this program option; (2) the date We reinstate the Borrower’s protection under the Contract if applicable; or (3) the date of an Advance under a protected Loan. Benefit Maximums Life Plus: †Before the end of the month during which the Borrower reaches age 70: 100% of the Protected Balance up to a maximum of $100,000. After the end of the month during which the Borrower reaches age 70: 25% of the Protected Balance up to a maximum of $25,000. ≠ Protected Payment for 3 months up to a maximum of $3,000. Disability: Protected Payment for 24 months up to a maximum of $24,000. Involuntary Unemployment: Protected Payment for 6 months up to a maximum of $6,000. †Benefit Maximums apply to death, Terminal Illness and Accidental Dismemberment ≠ Benefit Maximums apply to Hospitalization, Family Medical Leave and Loss of Life of a Non-Protected Dependent Filing a Claim To file a claim electronically, go to Claims Online at TruStage website, www.trustage.com. This product sheet is a quick reference document for credit union use only. Questions regarding product plans or information on this product sheet? Call 800.356.2644, Ext. 665.2000 TruStage™ is the marketing name for TruStage Financial Group, Inc. its subsidiaries and affiliates. DP-5460976.1-0223-0325 © TruStage REV (05/2023) Created on 10/12/2024 2 of 2