What is Payment Protection?

Payment Protection Insurance, also known as Credit Insurance, is really two types of insurance — Credit Life and Credit Disability.

• Credit Life Insurance is designed to payoff the insured balance of your loan if you die during the term of the loan.
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• Credit Disability Insurance is designed to pay your loan payments (up to the contract limit) if you become ill or disabled and are unable to work at any time during the term of the loan.
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