Get peace of mind knowing your Sovereign loan payments and/or outstanding loan balance can be canceled if you experience involuntary unemployment, disability, or even loss of life. Sovereign can help take the worry away by giving your family members the sense of security they need.
You can protect your family's finances by directing your household income where you need it most. Simply add a Loan Protection Plan to your new Sovereign secured loan, Home Equity Loan
, or Home Equity Line of Credit
Sovereign can help you with three great protection options:
- Your eligible debt on your protected Sovereign loan will be canceled in the event of your loss of life
- Co-borrowers do not have to repay the eligible debt
- Existing life insurance benefits can be used by your beneficiaries to pay other obligations or provide income to your family
Allows you to cancel your eligible loan payments on your protected Sovereign loan and use your reduced income (disability benefits) to help meet medical expenses
- Reduces stress on family budget during an already stressful time of disability
Allows you to cancel your eligible loan payments on your protected Sovereign loan and use your already reduced unemployment income to pay other bills or obligations.
For more information, or to purchase Sovereign's Loan Protection Plan, see your Sovereign Bank Representative.