Prepare for The Unexpected
Payment Protection
Preserve Your Standard of Living
Whether you're taking out a loan to make home improvements or buy a vehicle, you should take steps to protect you and your family in case something unforeseen happens. Life events can cause financial hardship, making bill-paying difficult. You don't want delinquent payments and defaulted loans to impact your finances.
Protection That Matters
If a protected life event happens to you (and you’re a protected borrower or co-borrower on the loan), Payment Protection will cancel or waive your loan payments, up to the contract maximums—helping to lessen your worries, and your family’s worries, about paying loans during a time when your income may be reduced or lost and paying other household bills becomes challenging. We offer a number of options you could protect yourself against. These events could include:
- Loss of life, including those caused by acts of war
- Disability, including those caused by acts of war
- Involuntary unemployment
Purchase a Payment Protection Plan
To purchase an Ideal Payment Protection Plan, call 651-770-7000 or visit one of our branches to speak with an Ideal Representative.
| Payment Protection Plan | Coverage | $100 Borrowed* |
| Life, Disability, Unemployment & Family Leave |
| $0.449 |
| Life & Disability |
| $0.349 |
| Life |
| $0.149 |
Your purchase of Payment Protection is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of [DP Program Name]. You may cancel the protection at any time. If you cancel protection within 30 days you will receive a full refund of any fee paid.