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Debt Protection

Real Protection for Real-Life Events

Ease your loan payments, protect your family and safeguard your credit rating.

Life is unpredictable. SDMCU's Debt Protection helps relieve the financial stress and worry related to making loan payments when life takes an unexpected turn.

With Debt Protection, your consumer loan payments may be cancelled without penalty when a covered event occurs.

Death - gives your family time to get back on its feet financially.

Disability - helps you avoid bills piling up as you try to regain your health and earning capacity. Use as a supplement to any disability coverage you may have at work (which usually only covers 60 percent of pay).

Involuntary Unemployment - gives you assurance that one of your major monthly expenses will be taken care of as you search for new employment.


Death. Cancels the remaining loan balance (up to $50,000) as of the date of death. If two protected borrowers die simultaneously, the outstanding balance up to $100,000 will be cancelled. In no event will an excess of $100,000 be cancelled.

Disability. Cancels up to 12 payments per occurrence (up to $1,000/month and a maximum aggregate benefit of $15,000 cancelled during the term of the loan per protected borrower).

Involuntary Unemployment.  Cancels up to six payments (up to $1,000 per month and a maximum aggregate benefit of $15,000 cancelled during the term of the loan per protected borrower).

San Diego Metropolitan Credit Union Debt Protection Plan

Choose the plan below that best fits your needs:
Plan Options Death Disability Involuntary Unemployment Rate per $1,000 of loan balance
        Single Joint
Consumer Plan Option    
Plan 1 Yes Yes Yes $2.04 $3.73
Plan 2 Yes Yes   $1.34 $2.39
Plan 3   Yes   $0.74 $1.40
Plan 4 Yes     $0.50 $0.81

There are eligibility requirements, conditions, and exclusions that apply to this plan. Please ask our loan representative for a copy of the Debt Protection Agreement, which provides additional details and answers to the most frequently asked questions. Or call us at 619.297.4835.

Additonal Information

Protect yourself
If you're like most people, you may be worried about unexpected, real life events that could happen during the term of your loan. Things such as losing your job or getting injured that leave you scrambling to pay your monthly bills.

San Diego Metropolitan Credit Union offers Debt Protection to relieve the pressure of your loan payments during certain unexpected events.

Debt Protection protects you, your family and your credit rating. You have peace of mind knowing your monthly loan payments will be cancelled in the event of death, disability, or involuntary unemployment.

No obligation for 30 days
When you apply for Debt Protection, you have 30 days to review your plan. If you are not satisfied with the plan or if your situation changes, you can cancel it at any time. If you do so within the first 30 days, any fees paid will be refunded.

A benefit for our members
We've designed our Debt Protection plan for you because it fits the times we live in today. More than ever, we all worry about things that might happen tomorrow. Debt Protection provides an important sense of financial security -- letting you worry less and sleep a little better at night.

Please consult with a loan representative to discuss our Debt Protection plan in more detail. Or call us at 619.297.4835.

*Covered Loans- Closed-end consumer loans with a term of 120 months or less; open-end consumer credit plans and unsecured lines of credit and credit cards.

This product is optional.
Your purchase of Debt Protection is voluntary and will not affect your application for credit or the terms of any existing credit agreement you have with San Diego Metropolitan Credit Union.
Additional Disclosures
Before you are required to pay for debt protection, we will give you a copy of the contract with the full terms and conditions of coverage.
Eligibility Requirements, Conditions, and Exclusions
There are eligibility requirements, conditions, and exclusions that could prevent you from receiving Debt Protection benefits. You should carefully read your Debt Protection contract for a full explanation of the terms and conditions of the Debt Protection plan.

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  • Contact a Phone Representative for assistance 619.297.4835
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