Debt Protection at Dupaco

How Do I Protect My Loan Payment?

Does Payment Protection cancel my debt?

The benefit of Payment Protection is that it may cancel your loan payment(s). Payment Protection offers the following protection:

  1. Balance cancellation—cancels a debt (up to the agreement maximum) if you die.
  2. Payment cancellation—cancels the principal, interest and Payment Protection Fee portions of your loan payment (up to the agreement maximum) if become disabled or experience another protected event such as involuntary unemployment. 

Is Payment Protection expensive?

The fee is specific to the amount and term of your loan and the protection package you select. The fee is automatically scaled to the amount of protection you select since it is calculated against the outstanding loan balance.

How do I qualify for Disability Payment Protection?

Payment Protection is made available during the loan process. When you enroll in Payment Protection, your loan will continue to have protection until it is cancelled according to the terms of the agreement. You could receive benefits multiple times during the loan term. However, the benefit period or amounts for loss of life, disability or involuntary unemployment events are limited to the benefit maximum. A recurrent event period also applies to some protected events. There are parameters that have to be in place in order to have your loan payments cancelled due to unemployment or disability* .

*To qualify for payment protection, you must meet the definition of Disability for at least 14 consecutive days and not be actively working at any job or combination of jobs paying you an income equal to or exceeding 80% of the income you were earning from your active employment immediately preceding the date you qualified for disability.
Disability always means you are unable, because of a medically determined accidental injury or sickness, to perform all of the essential functions of your occupation at the time your disability begins, and you are under the regular care and treatment of a licensed physician, other than you or a family member. If you are not employed when your disability begins, disability always means you are unable, because of a medically determined accidental injury or sickness, to perform the essential functions required of any occupation for which you are reasonably qualified by training, education or experience.

Why would I need this protection if I have disability benefits through my employer?

Employer disability benefit packages may cover only a portion of your salary (typically 60% or less) or offer no protection at all. You should check with your employer on your disability benefits. And, there are typically longer waiting periods before you receive Social Security disability benefits. (Source:

What types of loans can be protected?

Payment Protection is available on closed-end consumer loans, Dupaco VISA balances and home equity line of credit loans.

I have an existing loan with Dupaco. Can I protect that loan with Payment Protection, too?

Yes. You may enroll at any time.

Can I get joint Payment Protection (for me and my co-borrower)?

Yes, co-borrowers can have protection at no additional charge. The cost for individual protection and joint protection is the same so you do not have to pay more to have a co-borrower added to your protection.

Who do I call to file a claim and activate my benefits?

Call Dupaco at 800-373-7600 / (563) 557-7600, ext. 202.

What documents should I provide when filing a claim under my Payment Protection agreement with Dupaco?

Documentation differs depending on the type of loss you incur. CUNA Mutual staff will determine what is needed to verify the claim and will work with Dupaco, you, and your doctor (if needed) to obtain the required documentation.

How long must I have Payment Protection before I can file a claim?

Terms vary by life event. A request for benefits can be submitted immediately on some life events, such as loss of life. There are other life events that have waiting periods, depending on the product. You should still submit your request to confirm whether your loss is protected. Your Payment Protection member agreement/contract fully describes waiting periods.

Are pre-existing conditions protected?

Pre-existing conditions are excluded from protection during the first 6 months of protection. If you received advice, diagnosis, or treatment (including medication) from a physician six months prior to the effective date of protection, a loss under your Payment Protection agreement that was caused by that same condition wouldn’t be protected if it occurred during the six months after the effective date of protection.

How do I qualify for the Involuntary Unemployment Payment Protection?

If you are a permanent full-time employee (working 25 hours or more per week) and become involuntarily unemployed, qualify for state involuntary unemployment benefits and are actively seeking employement, you could be considered for benefit activation.

How can I cancel Payment Protection?

You may cancel Payment Protection at any time during the life of a loan by contacting Dupaco in writing or by phone. If you decide to cancel protection within the first 30 days after purchase, Dupaco will refund any program fee that may have been charged to the loan(s) during those 30 days.

Your purchase of Dupaco’s Payment Protection Program is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of Dupaco’s Payment Protection Program. You may cancel the protection at any time. If you cancel protection within 30 days you will receive a full refund of any fee paid.

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