Loan Insurance Menu  > Payment Protection FAQ

Frequently Asked Questions & Answers

About Payment Protection at DCU


Can I add Payment Protection at any time?
No. Payment Protection must be added to the loan during the first 30 days of opening the loan.

Can I cancel Payment Protection at any time?
Yes. You must submit a written request to DCU.

If I cancel Payment Protection, will my payment be adjusted?
No. Your monthly loan payment will remain the same. The cost of the coverage will be applied to principle, which will result in paying off your loan sooner.

If I have Payment Protection on a Visa and file a claim for Disability, Involuntary Unemployment, Hospital Stay, or Family Leave can I continue to charge on my Visa?
Yes. However, the claim will only cover the minimum payment on the loan balance at the time of your claim.

I only want Death, Involuntary Unemployment, and Hospital Stay coverage. Can I customize a plan?
No. DCU has put three protection plans together based on member and staff feedback. We think the plans, particularly the Preferred Protection Plan, are the best value for you.

Can I get Payment Protection on loans with terms greater than 120 months and/or loan amounts greater than $50,000?
Yes. However, only the first 120 months and/or $50,000 will be protected.

What happens to my protection if I become delinquent on a covered loan?
If the loan becomes 90 days delinquent, the Payment Protection will be cancelled.

I have Payment Protection (credit life and disability coverage) today. Will my insurance coverage go away when Payment Protection becomes available?
No. DCU will continue to support Payment Protection and handle the claims process.

If I have CPI (forced placed insurance) can I still file a claim?
Yes. CPI is included in your monthly loan payment. As a result, the loan will be paid based on the Payment Protection plan selected.

If you have any other questions regarding Payment Protection and services offered by DCU, please call our Information Center at 508.263.6700 or 800.328.8797.
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Digital Federal Credit Union
Digital Federal Credit Union
220 Donald Lynch Boulevard
PO Box 9130
Marlborough, MA 01752-9130
508.263.6700 • 800.328.8797
 DCU is an Equal Housing Lender    Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency. Select for more information.

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