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.