We’re honored to introduce End of Watch Debt Protection now available for all LAPFCU loans and lines of credit. Your debts are covered at no cost if you pass away in the line of duty. Read our frequently asked questions below.
Who is eligible?
This debt protection program is exclusively for LAPFCU members who are full-time, active-duty sworn and civilian law enforcement personnel. LAPFCU is the only financial institution in the nation to offer this coverage to civilian employees of law enforcement agencies.
What does debt protection do?
The coverage cancels the amount of a borrower’s loan(s) with the Credit Union if he or she dies while engaged in work-related activities due to external force, violence or as a result of heart attack or stroke during training or other stressful events while on duty. The debt protection program pays up to $850,000 of combined LAPFCU loan balances or up to $400,000 for a single LAPFCU loan.
What is covered?
All LAPFCU loans and lines of credit now feature End of Watch Debt Protection. Lines of credit and credit cards must be used within 30 days of account opening to be eligible.
How do you add the complimentary coverage?
Simply obtain a new loan or line of credit with a minimum balance of $10,000. Or, refinance your loans from other lenders with the Credit Union. After that, any other existing LAPFCU loans are covered.
Why was End of Watch Debt Protection created?
As a Credit Union for and by law enforcement, we understand your priorities and what matters to you. A career in law enforcement comes with risks and the possibility of untimely loss. The debt protection program offers peace of mind for our law enforcement members and financial relief for their loved ones, so they will not be burdened with debt during an already traumatic situation.