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Debt Shield

Belco is pleased to offer our members a voluntary loan payment protection product to provide relief from the financial burden of delinquency, default, or foreclosure if a protected life event unexpectedly happens to you.

If a protected life event occurs and you are a protected borrower or co-borrower on the loan, Debt Shield* will cancel or reduce repayment of your loan debt, helping to lessen the worries of you or your family about paying loans during a time of lost or reduced income.

Protected events include:

  • Loss of life (including those caused by acts of war)
  • Disability (including those caused by acts of war)
  • Involuntary unemployment

Meeting the eligibility requirements and enrollment are easy! So be sure to inquire about Debt Shield with your next loan transaction.

 

*Your purchase of Debt Shield 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 Shield.