Optional Debt Cancellation Protection
OMEGA FCU offers our members various loan protection products to provide them piece of mind if an unexpected life event occurs. It relieves you of the financial burden of making your monthly loan payments when you are financially unable. The cost of this optional protection is added right into your monthly loan payment.
Loss of Life Protection
This coverage cancels your outstanding loan balance if you should become deceased prior to your loan being paid off. Loss of Life Protection provides your surviving family members piece of mind knowing they will not be financially responsible for the debt they inherited from you as a result of your death.
This coverage pays your monthly loan payment up to an agreed maximum amount for an agreed maximum term if you are unable to work due to an approved illness or injury.
Involuntary Unemployment Protection
This coverage pays your monthly loan payment up to an agreed maximum amount for an agreed maximum term if you become involuntarily unemployed as a result of job loss or layoff.
To inquire about Optional Debt Cancellation Protection on your OMEGA FCU loan, please call 412-369-3800 x 702.