Debt Protection Coverage PDF

ACCU offers three types of Debt Protection coverage they are Life Plus Debt Protection, Life Plus Disability Protection, and **Life Plus Disability and Unemployment Protection.** **[Life Plus Debt Protection:]** Benefits of Life Plus Debt Protection: Balance cancellation of the loan Balance upon...

ACCU offers three types of Debt Protection coverage they are Life Plus Debt Protection, Life Plus Disability Protection, and **Life Plus Disability and Unemployment Protection.** **[Life Plus Debt Protection:]** Benefits of Life Plus Debt Protection: Balance cancellation of the loan Balance upon **qualified death or terminal illness** of a protected individual, the loan will be paid off in full for qualified balances. **Hospitalization benefit:** Payment Cancellation of up to 3 payments for a protected individual who is hospitalized and admitted for 48 hours or more for qualified claims. **Accident & Sickness**. Balance of loan will be paid off if due to qualified accident. Payments of up to 3 payments made for qualified sickness claims. If a protected individual goes on **Family Medical Leave** due to a qualified reason, then payments of up to 3 payments made for qualified claims. If there is a **Loss of life of a Non-Protected Dependent** then payments of up to 3 payments will be made for qualified claims. **[Life Plus Disability Protection:]** Benefits of Life Plus Disability Protection: Balance cancellation of the loan Balance upon **qualified death or terminal illness** of a protected individual, the loan will be paid off in full for qualified balances. **Hospitalization benefit:** Payment Cancellation of up to 3 payments for a protected individual who is hospitalized and admitted for 48 hours or more for qualified claims. **Accident & Sickness**. Balance of loan will be paid off if due to qualified accident. Payments of up to 3 payments made for qualified sickness claims. If a protected individual goes on **Family Medical Leave** due to a qualified reason, then payments of up to 3 payments made for qualified claims. If there is a **Loss of life of a Non-Protected Dependent** then payments of up to 3 payments will be made for qualified claims. **Disability Coverage Benefit**: Payment Cancellation for a qualifying disability, the Borrower must (a) meet the definition of Disability for at least 14 consecutive days, up to 24 Payments can be made for the protected individual. **[Life Plus Disability and Unemployment Protection]** Benefits of Life Plus Disability and Unemployment Protection: Balance cancellation of the loan Balance upon **qualified death or terminal illness** of a protected individual, the loan will be paid off in full for qualified balances. **Hospitalization benefit:** Payment Cancellation of up to 3 payments for a protected individual who is hospitalized and admitted for 48 hours or more for qualified claims. **Accident & Sickness**. Balance of loan will be paid off if due to qualified accident. Payments of up to 3 payments made for qualified sickness claims. If a protected individual goes on **Family Medical Leave** due to a qualified reason, then payments of up to 3 payments made for qualified claims. If there is a **Loss of life of a Non-Protected Dependent** then payments of up to 3 payments will be made for qualified claims. **Disability Coverage Benefit**: Payment Cancellation for a qualifying disability, the Borrower must (a) meet the definition of Disability for at least 14 consecutive days, up to 24 Payments can be made for the protected individual. **Involuntary Unemployment Benefit:** If the protected individual becomes **Involuntary unemployed** then there will be a cancellation of up to 24 Loan Payments for a qualified claim. +-----------------------------------+-----------------------------------+ | | | +-----------------------------------+-----------------------------------+ | | | +-----------------------------------+-----------------------------------+ | | 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. | | | | | | 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. | +-----------------------------------+-----------------------------------+ | | | +-----------------------------------+-----------------------------------+ | | | +-----------------------------------+-----------------------------------+ | | | +-----------------------------------+-----------------------------------+ | | | +-----------------------------------+-----------------------------------+ | | | +-----------------------------------+-----------------------------------+ This product sheet is a quick reference document for credit union use only. 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 12/05/2024 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 - 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 **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. Benefit Maximums ================ **Life Plus:** †Before the end of the month during which the Borrower reaches age 70: **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. Filing a Claim ============== 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 12/05/2024 2 of 2