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Debt Protection

A financial safety net that can help with eligible loan payments during certain unexpected life events.
Protection during difficult times
Multiple coverage options
Coverage for different loans

Help protect your finances when life changes.

A death, disability, or involuntary job loss can make it harder to keep up with monthly payments.

Michigan First Loan Debt Protection is designed to help reduce that financial pressure by canceling or forgiving eligible loan payments for a specified period - or, in certain situations, canceling an eligible remaining balance - based on the protection plan and covered event. 

What can Debt Protection cover?

Michigan First currently offers multiple Debt Protection plans with coverage options related to events such as:

  • Death
  • Disability
  • Involuntary unemployment

Available coverage depends on the plan selected, the loan type, and applicable terms and conditions.

Which loans may be eligible?

Current protection options include coverage for:

Shorter-term borrowing

  • Loans with terms of 120 months or less
  • Unsecured lines of credit
  • Credit cards

Longer-term borrowing

Michigan First currently offers eight plan options

With pricing based on the selected coverage and whether the account is single or joint.

How do I file a claim?

Claims are currently handled through Securian.

To begin a claim, visit the Securian benefits site or call the Claim Center at 800.328.9442. Continue making your required loan payments until you receive a claim decision. 

Once your claim is received, Securian will review it and let you know whether it is approved, denied, or whether additional information is needed.

Have questions? We’re here to help.

Whether you need help choosing a product, understanding your options, or managing an existing account, our team is ready to help.
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Parenthood brings with it immense joy and excitement, but it also comes with financial responsibilities. From diapers to daycare, the costs can add up quickly. However, with some strategic planning and savvy saving techniques, you can alleviate the financial stress that often accompanies expanding your family.

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