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What is Payment Protection?
Payment Protection is an optional tool that enables you to ensure that your loan is not a burden on your family in the unfortunate event of the subscriber's death. Most people carry very little life insurance and are not adequately protected from potentially catastrophic events. Commerce Bank offers Life Protection on all of our Home Equity Line of Credit products.
- Life Protection** can cover a Single individual or Joint parties depending on coverage elected. It will pay the balance of the loan up to a policy maximum in case of the subscriber's death.
To apply for a Home Equity Line of Credit, click here.
** Payout maximums are $50,000 for Life (Joint or Single). Other restrictions apply.
Return to Home Equity Loans & Lines of Credit page.
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