Add Payment Protection to Loan

These steps explain how to add payment protection, such as credit life and disability insurance or debt protection, to an existing loan.

1. Launch Tool #20 Update Account Information.

2. Enter the member’s account number on the Sub-Account Maintenance pop-up.

   • If you’re unsure of the account number, enter the Social Security number instead.

3. Click the forward arrow.

4. Select the loan account from the list on the Existing Account Maintenance screen.

5. Click Select.

6. Click Loan Coverages on the Account Information Update (Loans) screen.

   • If the member doesn’t already have life or disability insurance or debt protection on the loan, you will be presented with the Coverage Choice pop-up where you will need to select a coverage type. Select Debt Protection to proceed.

7. On the Payment Protection and Miscellaneous Coverages (Change) screen, click the lookup button corresponding to the payment protection you’d like to add.

8. Select the desired coverage on the Debt Protection Selection pop-up.

9. Click Select.

10. Click the back arrow to exit the Payment Protection and Miscellaneous Coverages (Change) screen.

    • Do not click the up arrow. It will cancel your changes.