mid-illini borrrower security
Debt Protection
Are you taking out a loan to make home improvements or to buy a car? Have you thought about what happens to your loans when the unforeseen happens? Mid-Illini Borrower Security Debt Protection is a voluntary loan payment protection product designed to help you get relief if a protected life event (unemployment, disability, death, etc.) unexpectedly happens to you.
Help protect your loan. Help preserve your standard of living. Call Mid-Illini at 309.663.2063 and ask about protecting your loans today.
Disclosure: Your purchase of Mid-Illini Borrower Security Debt Protection 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 Mid-Illini Borrower Security Debt Protection.
You may cancel the protection at any time. If you cancel protection within 30 days, you will receive a full refund of any fee paid.
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Loan Protection
What would happen if you were unable to work? Who would make your auto loan payment?
What if you passed away unexpectedly? Who would be responsible for the rest of your loan?
With loan Protection from Mid-Illini Credit Union, you won’t have to worry. For as little as the cost of your daily coffee, you can purchase the extra protection you need to ensure your loans will never become a burden to your loved ones because of an unforeseen event.
The best part? Because Mid-Illini is a member-owned, not-for-profit cooperative, it costs less to buy Loan Protection from us than our competitors. For-profit financial institutions roll the entire cost of Loan Protection into the principal of the loan, meaning customers pay interest on the entire amount. Here, we only charge interest on the monthly premium, which drops as you make payments on your loan. The same protection for less money? That’s different—and different is better here at Mid-Illini.
Call 309.661.1166 today and ask about adding Loan Protection—it’s one less thing for you to worry about!
Interested in adding Loan Protection to an existing loan?
Just complete this form and a Mid-Illini Lending Expert will get back to you with a quote!
