Payment Protection

Experts recommend that you carry an amount of life insurance five to seven times your annual salary. Yet many Americans are uninsured or underinsured.

For those fortunate enough to receive disability insurance through their employer, it may not be enough to cover monthly expenses. Likewise, while Social Security provides long-term benefits, these benefits do not begin for six months and are capped at a portion of normal take-home pay.

Orlando Federal Credit Union offers Payment Protection to serve a very real need. Providing an economical way for our members to purchase peace of mind, Payment Protection can supplement existing life and disability insurance or be an option if you don’t currently have insurance coverage.

Payment Protection enhances your financial well-being by reducing the likelihood that a covered loan will end up in default if certain unexpected events occur.

Coverage options

  • Credit Life Payment Protection – Reduces or pays off the insured loan balance if you die. Cancels up to $50,000 per loan. Qualifying members are under age 71 and meet eligibility requirements.
  • Credit Disability Payment Protection – Pays loan payments up to $50,000 if you become ill or disabled and are unable to work. Qualifying members are under age 66 and meet eligibility requirements.


  • Protects financial security – Helps assure that a loan will not end up in default in the event of the insured’s death or disability, reducing the financial burden on your family.
  • Predictable rates –Monthly premium rates are regulated by each state.
  • Convenient – Application is quick and usually done at time of loan application or loan closing. The monthly premium is included with the monthly loan payment.
  • Simplified eligibility – Members complete a short application and may need to answer general health questions.

Talk to one of our member service representatives or call us at 407-835-3500.