Loan Payment Protection
Keep your finances secure in the event of a tragedy.
Safeguard your loan payments.
Eliminate All Or Part Of Your Remaining Loan Balance
Protect Your Credit Rating
As loan payment obligations are made on your behalf.
Prevent Late Fees
Protect Your Family and Your Possessions
Pay Benefits in Addition to Any Other Protection You May Have
All packages include Funeral Concierge Service as an added benefit.
A disabling injury, or death, sends shockwaves through a family. During these difficult times, Tower's Loan Payment Protection ensures your loan obligations are met.1 Take steps to provide peace of mind and protect your family's finances and possessions.
| Option | Loss of Life | Disability | Involuntary Unemployment | Family Leave | Single* | Joint** |
|---|---|---|---|---|---|---|
| 1 | X | $0.63 | $1.05 | |||
| 2 | X | X | $1.30 | $2.29 | ||
| 3 | X | X | X | $2.53 | $4.56 | |
| 4 | X | X | X | $1.52 | $2.69 |
*Cost per $1,000 of the outstanding monthly loan balance (single borrower coverage)
**Cost per $1,000 of the outstanding monthly loan balance (joint borrower coverage)
**Cost per $1,000 of the outstanding monthly loan balance (joint borrower coverage)
Loss of Life: Designed to pay the remaining loan balance in the event of the protected borrower's death. Includes: Dismemberment, Loss of Sight & Terminal Illness.
Disability: Designed to pay monthly installment payments in the event of a protected borrower's disability, injury or illness while under a doctor's care and unable to work.
Involuntary Unemployment: Designed to pay monthly installment payments in the event of a protected borrower's involuntary unemployment for up to 6 months total.
Family Leave: Designed to pay monthly installment payments in the event of a protected borrower taking family leave to care for a family member for up to 3 months total.
Disability: Designed to pay monthly installment payments in the event of a protected borrower's disability, injury or illness while under a doctor's care and unable to work.
Involuntary Unemployment: Designed to pay monthly installment payments in the event of a protected borrower's involuntary unemployment for up to 6 months total.
Family Leave: Designed to pay monthly installment payments in the event of a protected borrower taking family leave to care for a family member for up to 3 months total.
