Payment Protection

Payment Protection

Because sometimes when it rains, it pours.

WECU's Payment Protection program offers great coverage at very competitive rates. See the tables below for detailed information regarding each product. Payment Protection is available for:

  • VISA Credit Cards (Personal Choice or Classic, Platinum, Business [sole prop only])
  • Consumer Loans (Automotive, Personal, Timeline, and Secured loans.)
  • Home Equity Line of Credit (HELOC) Loans

Loss of Life protection is a debt cancellation product that cancels your eligible loan balance, up to the agreement maximum, should you die before paying off your loan. At the age of 70, the maximum benefit is 25% of your eligible loan balance. Pre-existing conditions may not be covered.

Disability protection cancels your monthly loan payment, up to the agreement maximum, so your loan balance declines should a disability due to a covered illness or injury occur. You must be actively working 25 hours per week at the time disability protection is purchased, unable to do the duties of your usual occupation, and be under the care of a physician. Pre-existing conditions may not be covered.

The Payment Protection program contains certain terms and exclusions. The program protects the first two borrowers listed on the lending agreement. The protected borrower(s) may not qualify for all benefits.

For full details, or to have Payment Protection added to your loan, please call our contact center at (360) 676-1168.


 Payment Protection for Consumer Loans 
Protection type Cost What's covered
Loss of Life $0.080 per $100 borrowed Balance Cancellation (up to $50,000) for Accident & Sickness.
Disability $0.150 per $100 borrowed Payment Cancellation (for 24 months and up to $24,000) for Accident & Sickness. 14 day waiting period.
Loss of Life and Disability $0.230 per $100 borrowed All of the Above

 Payment Protection for Home Equity Line of Credit (HELOC) Loans 
Protection type Cost What's covered
Loss of Life $0.108 per $100 borrowed Balance Cancellation (up to $75,000) for Accident & Sickness.
Disability $0.108 per $100 borrowed Payment Cancellation (for 12 months or up to $12,000) for Accident & Sickness. 14 day waiting period.
Loss of Life and Disability $0.214 per $100 borrowed All of the Above

 Payment Protection for VISA Credit Cards 
Protection type Cost What's covered
Loss of Life $0.080 per $100 borrowed Balance Cancellation (up to $50,000) for Accident & Sickness.
Disability $0.150 per $100 borrowed Payment Cancellation (for 24 months and up to $24,000) for Accident & Sickness. 14 day waiting period.
Loss of Life and Disability $0.230 per $100 borrowed All of the Above