Payment Protection Insurance

Life can be wonderful. But it can also get complicated when unexpected things happen.

Payment Protection1 is a simple and budget-friendly way to protect your family and help ensure your credit cards, auto loans, or personal loan payments are maintained if you become unemployed, disabled, or pass away. This protection could cancel your loan balance or payments up to the contract maximums.

Life Plus is an optional add-on to Payment Protection, which adds additional protection for life events such as accidental dismemberment, terminal illness, hospitalization, family medical leave, and the loss of life of a non-protected dependent. Protect your loan balance or loan payments today so your family can worry a little bit less about tomorrow. Purchasing protection is voluntary and won’t affect your loan approval.

Key Features

Protect Your Payments and Debts

Available on auto loans, personal loans, and credit cards

Comprehensive Coverage

Full monthly payments may be cancelled, up to contract maximums

Life Plus Added Protection

This optional add-on gives even more protection for accidental dismemberment, terminal illness, hospitalization, family medical leave, and loss of life of a non-protected dependent

A hand holding cash.

Affordable Protection

Only pay coverage for what you owe, cancel anytime

Frequently Asked Questions

Let’s have a conversation
At Patelco, we put your financial wellbeing first and provide free financial coaching with a Patelco Certified Financial Specialist.2 Your financial specialist can help you create a personalized strategy so you can feel in control of your money and track your progress.
A Certified Financial Specialist helps a Patelco member plan for the future.
Coverage for the unexpected
Patelco offers insurance solutions3 for every stage of life, so no matter where you or your family are at, we’ve got you covered. Learn more about how you can help protect yourself and those you love.
An illustration of a car covered by Patelco Protection Plans.

Read More

October 29, 2019

What kind of insurance do I need? Get guidance on how much car insurance, if you need life insurance and how much and how to evaluate the cost of health insurance.

November 8, 2019

Thinking about life insurance? Get the facts from Patelco to find out about the types of life insurance, what it covers, and how much life insurance you may need!

September 9, 2020

Read this article to find out how to form good spending habits so you can stay on budget and reach your financial goals.

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Get Payment Protection
It’s easy to get the coverage you need today.
  • 1 Your purchase of Payment Protection with Life Plus 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 Debt Protection with Life Plus. 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.

  • 2 Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Patelco Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.

  • 3 Insurance products are not deposits of Patelco Credit Union and are not insured by the NCUA. They are not guaranteed by Patelco Credit Union and may be subject to risk. Any insurance required as a condition of an extension of credit by Patelco Credit Union need not be purchased from Patelco Insurance Services and may be purchased from an agent or an insurance company of the member's choice. Patelco Insurance Services is a subsidiary of Patelco Credit Union. Insurance products are offered by Patelco Insurance Services, a California insurance agency (License #0C97544). Any complaints may be filed with the California Department of Insurance, insurance.ca.gov.

  • All statements made are subject to provisions, exclusions, conditions, and limitations of the applicable insurance policy. Coverages and features are not available in all states. Eligibility is subject to meeting applicable underwriting criteria. Discounts and savings are available where state laws and regulations allow and may vary by state. Certain discounts apply to specific coverages only. To the extent permitted by law, applicants are individually underwritten; not all applicants may qualify. A consumer report from a consumer reporting agency and/or motor vehicle report will be obtained on all drivers listed on your policy where state laws and regulations allow. Please consult your policy for specific coverages and limitations.