Common use of DEBT PROTECTION PLAN Clause in Contracts

DEBT PROTECTION PLAN. Your purchase of the Debt Protection Plan (“Plan”) is optional. Whether or not you purchase this protection will not affect your application for credit or the terms of any existing credit agreement you have with PenFed. If you do purchase Debt Protection you may cancel it at any time by notifying us in writing. You understand that you may rescind this plan within 30 days after the date your Debt Protection becomes effective. If you rescind, any premiums you have already paid will be credited to your account. We can terminate this Agreement by giving you notice at least 30 days in advance of the termination. The premium, method of calculation and assessment are subject to change. If these terms change we will provide written notice before the change goes into effect. Premiums will accrue on a daily basis and will be billed to your account monthly. Complete details of this optional Debt Protection are included in The Debt Protection Plan Program Agreement which you will receive upon enrollment.

DEBT PROTECTION PLAN. Your purchase of the Debt Protection Plan (“Plan”) is optional. Whether or not you purchase this protection will not affect your application for credit or the terms of any existing credit agreement you have with PenFed. If you do purchase Debt Protection you may cancel it at any time by notifying us in writing. You understand that you may rescind this plan within 30 days after the date your Debt Protection becomes effective. If you rescind, any premiums you have already paid will be credited cred- ited to your account. We can terminate this Agreement by giving you notice at least 30 days in advance of the terminationtermina- tion. The premium, method of calculation and assessment are subject to change. If these terms change we will provide written notice before the change goes into effect. Premiums Premi- ums will accrue on a daily basis and will be billed to your account monthly. Complete details of this optional Debt Protection are included in The Debt Protection Plan Program Pro- gram Agreement which you will receive upon enrollment.

DEBT PROTECTION PLAN. Your purchase of the Debt Protection Plan (“Plan”) is optional. Whether or not you purchase this protection will not affect your application for credit or the terms of any existing credit agreement you have with PenFed. If you do purchase Debt Protection you may cancel it at any time by notifying us in writing. You understand that you may rescind this plan within 30 days after the date your Debt Protection becomes effective. If you rescind, any premiums you have already paid will be credited cred- ited to your account. We can terminate this Agreement by giving you notice at least 30 days in advance of the terminationtermina- tion. The premium, method of calculation and assessment are subject to change. If these terms change we will provide written notice before the change goes into effect. Premiums will accrue on a daily basis and will be billed to your account monthly. Complete details of this optional Debt Protection are included in The Debt Protection Plan Program Agreement Agree- ment which you will receive upon enrollment.