Payment Protection Plans

How would you or your family cancel your credit card or consumer loan balances if something happened to you?

Navy Federal offers three affordable Payment Protection Plan options. With Payment Protection, your Navy Federal loan or credit card balances will be cancelled in the event of loss of life. Additional plans can also cancel the monthly payments on your loans should you become disabled or unemployed—including honorable discharge from the military.

The cost of the plan you choose is based on your outstanding loan balance and is included in your monthly payment. For pennies a day, you can be assured that you or your family won’t have to worry about paying your loans.

You have your choice of plan for each of your loans or credit cards:

*Age 70 or older, 25% of the outstanding balance—up to $18,750—upon the loss of life of the borrower. Payment Protection Plans cover only the primary borrower.

For more information or to purchase a Payment Protection Plan, call
1-888-842-NFCU (6328), international numbers.

Your purchase of a Payment Protection Plan is optional. Whether or not you purchase a Payment Protection Plan will not affect your application for credit or the terms of any existing credit agreement you have with Navy Federal. You may cancel your Payment Protection Plan at any time. If you cancel within 60 days of enrollment you will receive a full refund of any Payment Protection Plan fees. We will give you additional information before you are required to pay for a Payment Protection Plan. This information will include a copy of the agreement containing the terms of the Plan. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under the Payment Protection Plan. You should carefully read our additional information for a full explanation of the terms of the Payment Protection Plan.

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