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Payment Protection Plan
Routing number: 221571473
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Manage your products and services:
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Maximum Charge Protection Plan
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Personal Loan Life Insurance
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Personal Loan Disability Insurance
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Personal Loan Involuntary Unemployment Insurance
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Chargegard Ultimate Protection Plan
Maximum Charge Protection Plan
Protect your credit with a Payment Protection Plan.
Personal Loan Life Insurance
This policy covers the outstanding balance of your loan if the primary or co-debtor suffers an event covered by the plan.
This being the case, the net balance of the loan plus an amount equal to three monthly payments will be paid. The sum insured protects only the insured's principal balance and premiums, interest charges are not covered by this plan.
The cover will be effective as soon as the loan is disbursed, provided that the insured has opted for the insurance.
Eligibility:
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Must be between 18 and 69 years of age
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Coverage: simple or joint
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Benefit limit: up to $75,000
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Loan term: up to 120 months
Personal Loan Disability Insurance
This policy is designed to cover the debtor's monthly obligations (while covered) if an illness or accident renders the debtor unable to perform his/her duties. Benefits will be paid after a 30-day waiting period. The insured will qualify for a maximum monthly benefit of up to $750 to cover monthly loan payments while disabled.
Eligibility:
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Must be between 18 and 69 years of age
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Coverage: single (primary debtor)
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Benefit limit: maximum monthly benefit up to $750
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Maximum loan term: up to 84 months
Personal Loan Involuntary Unemployment Insurance
This policy covers the monthly obligations of the insured debtor in the event of involuntarily unemployment due to an individual or mass layoff, general strike, termination by employer, union labor dispute or temporary closing of operations.
Retroactive Plan
The plan begins after a minimum waiting period of 30 days. Thereafter, benefits will be paid retroactively from your first (1st) day as unemployed, thus covering the monthly loan payment up to the maximum amount offered by the plan.
Eligibility:
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Must have worked for income in the last 12 consecutive months, for a minimum of 30 hours per week, in a non-temporary job, from which the past 90 days have been consistent with the same employer.
Chargegard Ultimate Protection Plan
This Payment Protection Plan, underwritten by Assurant®, is designed to insure your credit card balances for up to $15,000 or your minimum monthly payment.
Eligibility:
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Must be between 18 and 69 years of age
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You must have had regular full-time employment where you have worked during the last 90 days prior to the date of loss and at least 30 hours per week in a non-seasonal occupation
Coverage:
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Life
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Accidental death
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Dismemberment
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Hospitalization
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Disability
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Involuntary unemployment
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Unpaid leave of absence
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Positive life events
1The information provided is only a general description of coverage. For further information you should consult your policy to know the terms, limitations, and general conditions. The insurance products offered by FirstBank Insurance Agency, LLC are not a bank deposit. They are not insured by the FDIC, nor by any agency of the state or federal government. They are also not guaranteed by FirstBank or any of its subsidiaries and may decrease in value. Obtaining insurance is optional and it can be canceled at any time. The purchase of insurance from the Bank or one of its affiliates or the agreement not to obtain an insurance product from an unaffiliated entity will not be a condition for credit approval. We will not reject the insurance(s) of your choice if the same complies with our requirements and standards related to coverage, financial strength and services provided by an insurer. 2Obtaining this insurance policy is optional and you may cancel it at any moment. It will not be a condition for the approval of the extension of credit the purchase by the consumer of insurance products or annuities offered by the Bank or one of its subsidiary corporations, or any agreement by the consumer to refrain from obtaining insurance products or annuities from entities that are not affiliated to the Bank. The coverage for life, accidental death, dismemberment, hospitalization, disability, involuntary unemployment, leave of absence and positive live events are subscribed by Caribbean American Life Assurance Company and Caribbean American Property Insurance Company, affiliates of Assurant®. Certain age limitations and other conditions and exclusions apply. For additional information please refer to the insurance certificate.