Prepare for unexpected events such as death, disability or involuntary unemployment with a simple, cost-effective solution. Loans covered by debt protection may be eligible for balance or monthly loan payment cancellation without penalty or added interest.
Features & benefits
Protect your credit score
Our debt protection program can help keep you from defaulting on a loan.
Peace of mind
Your family is protected from additional hardship during an emergency.
Budget-friendly
A small premium will be spread across your entire loan term.
Types of coverage and cost
Debt protection ensures the timely payment of the following types of Empeople loans.
Credit cards
Equity loans
Auto loans
To add debt protection, send us a secure message in digital banking, or call us at (800) 338-6739.
Debt protection coverage tiers
| Coverage | Auto & credit cards | Home equity | |
|---|---|---|---|
| Cost per $1,000 of loan balance | |||
| Plan 1 | Death, Disability, Involuntary unemployment | $4.92/mo | $4.51/mo |
| Plan 2 | Death, Disability | $3.29/mo | $3.26/mo |
| Plan 3 | Disability only | $2.60/mo | $1.63/mo |
| Plan 4 | Death only | $0.69/mo | $1.63/mo |
Death: Cancels the outstanding loan balance up to $100,000.
Disability: Cancels up to 24 monthly payments up to $1,200 per month and $28,800 over the term of the loan.
Involuntary unemployment: Cancels up to six monthly payments up to $1,200 per month and $15,000 over the term of the loan.
How to file a claim
Gather the following information from the covered member before getting started: Full name, address, date of birth, date of event, cause of event.
- Create a secure account at mycoverage.securian.com
Select the type of claim you’re reporting and enter basic information about your covered event. - Submit your claim
Once the claim is received, it will be reviewed and you will be notified if it is approved, denied, or if more information is needed. - Review claim information and status anytime
Access your claim and review status and payment details 24/7 at mycoverage.securian.com.
You may also file a claim by phone at (800) 328-9442, Monday — Friday, 7:00 a.m. — 6:00 p.m. CT.
Protect your financial health today
Why leave your financial stability to chance? Join thousands of Empeople members who rest easy knowing they’re covered. Debt protection can be added within 180 days of origination of closed-end loans or opening a line of credit.
2,516
Loans claims made last year*
$4,103,385
in claims paid last year*
To add debt protection, send us a secure message in digital banking, or call us at (800) 338-6739.
*Claims made and claims paid are 2024 aggregates of death, disability, involuntary unemployment claims filed by Empeople members in 2024.
This product is optional: Your purchase of debt protection is optional. Whether or not you purchase this product will not affect your application for credit or the terms of any existing credit agreement you have with Empeople.
Additional disclosures: We will give you additional information before you are required to pay for debt protection. This information will include a copy of the contract containing the terms and conditions of debt protection.
Eligibility requirements, conditions and exclusions: There are eligibility requirements, conditions and exclusions that could prevent you from receiving debt protection benefits. You should carefully read your debt protection contract for a full explanation of the terms and conditions of the debt protection program.
The Contractual Liability Policy is issued by Securian Casualty Company, a New York authorized insurer. Minnesota Life Insurance Company acts as the administrator of the debt protection program. Product availability and features may vary by state.
Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries. Minnesota Life Insurance Company is a subsidiary of Securian Financial Group, Inc.