Payment Protection
Learn how MHV Loan Payment Protection can help protect your loan payments during certain unexpected life events and financial hardships.
loan protection, debt protection
Protect the things that matter most.
Life can take some unexpected turns. Payment Protection can cancel all or part of your loan balance or payments if you become involuntarily unemployed, disabled, or die—so an unexpected event doesn't become a financial worry.
Life can take some unexpected turns
Your family means everything to you. And if the unexpected happens, you don’t want to compound a stressful situation by being burdened by financial worry. That’s why there’s Payment Protection, which may cancel your loan balance or payments in case of involuntary unemployment, disability, or death.
Coverage that fits your life
Payment Protection is available for MHV auto loans, personal loans, and credit cards.
Life Plus Protection
Involuntary Unemployment
Disability Protection
Need to file a Payment Protection claim?
We’re here to help. In your time of need, our claims process is simple — for current or qualifying events. If you elected Payment Protection on your loan, you can begin your claim online.
Commonly asked questions
Payment Protection is an optional product added to your loan that may cancel all or part of your loan balance or payments if a protected life event occurs — such as death, disability, or involuntary unemployment.
Payment Protection is available for MHV auto loans, personal loans, and credit cards.
No. Payment Protection is completely optional and will not affect your application for credit or the terms of your loan if you choose not to add it.
Yes. You may cancel the protection at any time. Payment Protection is voluntary and is not required to obtain a loan. Your decision will not affect your application for credit or the terms of any existing credit agreement you have with MHV. If you cancel within 30 days, you will receive a full refund of any fee paid; after that, you will receive a refund of the unearned portion of the fee. See your contract for full terms and conditions.
Payment Protection is optional and will not affect your application for credit or the terms of any existing or future credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. You may cancel the protection at any time. If you cancel, you will receive a full refund of any fee paid.