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Credit Protection Eligibility and Requirements

As of July 14, 2014, State Farm Bank® stopped offering Credit Protection to new enrollees. If you were already enrolled at that time, your Credit Protection remained in force.

The State Farm Bank Credit Protection Program is an optional service for State Farm® Rewards Visa®, and State Farm® Good Neighbor Visa® credit card customers that will cancel a monthly minimum payment for a specified period of time under three levels of protection: Essential, Preferred or Premier Credit Protection. Once enrolled in the program, benefits are triggered by a "covered event." Each covered event is defined and explained below. Not all covered events listed are included under all levels of protection, for more information see the Credit Protection Summary

State Farm Bank® deposit accounts are FDIC insured.


"Disability" Defined: "Disability" means that you were injured in an accident or suffer from an illness that prevents you from performing the material and substantial duties of your job, or, if you are retired or are otherwise unemployed, that would prevent you from performing the material and substantial duties of any and all jobs. To be entitled to Disability benefits, you must be under the continuous treatment of a physician who will verify your Disability and your continuous treatment.

Benefit Period: Benefits for Disability will commence as of the beginning of the billing period in which we determine that you have provided satisfactory evidence that your Disability has continued for 30 consecutive days. Premier and Preferred Credit Protection benefits will be provided for not more than a total of 24 billing periods and Essential Credit Protection benefits for not more than a total of six billing periods for each covered event and will stop, if sooner, as of the beginning of the billing period in which the Disability ends or you fail to provide satisfactory evidence that the Disability is continuing.

Exclusions

You do NOT qualify for Disability benefits if your disability is due to:

  • Childbirth
  • Normal pregnancy
  • Intentionally self-inflicted injuries
  • Disability during the first six months of State Farm Bank Credit Protection coverage arising from an accident or illness that caused you to consult with a physician or seek medical treatment within six months prior to your enrollment in the State Farm Bank Credit Protection Program
  • Disability that occurs prior to your enrollment (or re-enrollment) in the State Farm Bank Credit Protection Program


"Involuntary Unemployment" Defined:"Involuntary Unemployment" means that you suffer a total loss of salary or wages as the result of the loss of employment due to layoff; general strike; lockout; or involuntary termination of employment by the employer (excluding termination for willful or criminal misconduct). To be entitled to benefits, the covered person must be employed at least 30 hours per week for at least 90 consecutive days prior to the date of Involuntary Unemployment. You must also qualify for your state's unemployment benefits or you must register for work and remain registered with a recognized employment agency to remain eligible for program benefits. Persons employed by family members, or working in a temporary or seasonal type of job are not eligible for this coverage.

Benefit Period:Benefits for Involuntary Unemployment will commence as of the beginning of the billing period in which we determine that you have provided satisfactory evidence that your Involuntary Unemployment has continued for 14 consecutive days. Premier and Preferred Credit Protection benefits will be provided for not more than a total of 24 billing periods and Essential Credit Protection benefits for not more than a total of six billing periods, for each covered event and will stop sooner, as of the beginning of the billing period in which the Involuntary Unemployment ends or you fail to provide satisfactory evidence that the Involuntary Unemployment is continuing.

Exclusions

You do NOT qualify for Involuntary Unemployment benefits if you lose your employment due to:

  • Resignation or retirement
  • Voluntary forfeiture of employment, salary or wages
  • Disability caused by sickness, illness, disease, accident, injury or pregnancy
  • Willful or criminal misconduct
  • Scheduled termination of an employment contract
  • The type of work is of a seasonal or temporary nature
  • Involuntary Unemployment that commences prior to your enrollment (or re-enrollment) in the State Farm Bank Credit Protection Program

You cannot obtain benefits for Involuntary Unemployment if you are retired or employed by a family member.



"Accidental Death/Dismemberment" Defined: "Accidental Death/Dismemberment" means that the death or dismemberment occurred as a direct result from accidental injuries suffered through no intentional fault of the covered person and the death or dismemberment occurs within 90 days of the date of those initial injuries.

Benefit Amounts: Preferred and Essential Credit Protection benefits for Accidental Death will cancel your total outstanding balance as of the date you suffered the loss up to $10,000.00. Preferred and Essential Credit Protection benefits for Accidental Dismemberment will pay your total outstanding balance up to $5,000.00 as of the date you suffered the loss or losses as detailed below:

Eligible Dismemberment Losses

  • Complete loss of one hand above the wrist or one foot above the ankle
  • Declared legally blind in both eyes
  • Complete loss of hearing in both ears
  • Complete loss of thumb below the second knuckle and the index finger below the second knuckle on the same hand

Exclusions: You do NOT qualify for Accidental Death/Dismemberment benefits if your injuries or loss are a result of:

  • Your committing or attempting to commit suicide.
  • Your operating any motorized transportation vehicle while under the influence of drugs or alcohol.
  • Injuries sustained during a criminal act or in preparation for a criminal act.
  • Intentionally self-inflicted injuries.
  • A scheduled operational procedure in any medical facility in which the intention is to dismember any of the covered losses.
  • Injury that occurs prior to your enrollment (or re-enrollment) in the State Farm Bank Credit Protection Program.
  • Loss due to disease, illness or other natural causes.


"Loss of Life" Defined: "Loss of life" benefits are subject to State Farm Bank Credit Protection Program terms and conditions and your next of kin must submit a certified copy of your death certificate to State Farm Bank.

Benefit Periods: Premier Credit Protection benefits for loss of life will cancel your total outstanding balance as of the date you suffered the loss up to $10,000.00.

Exclusions

You do NOT qualify for Loss of Life benefits caused by:

  • Your committing or attempt to commit suicide;
  • Your operating any motorized transportation vehicle while under the influence of drugs or alcohol;
  • Injuries sustained during a criminal act or in preparation for a criminal act.
  • Intentionally self-inflicted injuries;
  • Injury that occurs prior to your enrollment (or re-enrollment) in the Program;
  • Nuclear disaster or War or any act of war
  • As a result of Pre-existing Medical Condition
  • An unscheduled air flight defined as a flight on an airline not listed on the Official Airline Guide, which is either of the United States registry or foreign registry and certified by the United States government to carry passengers on a regularly scheduled basis.


"Loss of Use of Primary Residence" Defined: "Loss of Use of Primary Residence" means your residence that you resided in at the time of the event is completely destroyed or deemed uninhabitable by a licensed building inspector, licensed structural engineer, or governmental building inspector due to an accident or a natural disaster. The residence must be uninhabitable for at least 72 consecutive hours.

Benefit Period: Premier and Preferred Credit Protection benefits for Loss of Use of Primary Residence will commence as of the beginning of the billing period in which we determine that you have provided satisfactory evidence of your Loss of Use of Primary Residence. Benefits will be provided for not more than a total of six billing periods and will stop, if sooner, as of the beginning of the billing period in which the Loss of Use of Primary Residence ends or you fail to provide satisfactory evidence that the Loss of Use of Primary Residence is continuing. If the Loss of Use of Primary Residence is for less than one month, the benefit will cancel one cancellation amount.

Exclusions

You do NOT qualify for Loss of Use of Primary Residence benefits if:

  • You are evicted for any reason.
  • You are ordered to vacate the residence due to civil or criminal court order such as divorce, separation, abuse or order of protection.
  • You voluntarily vacate the residence.
  • The loss is the result of an intentional act or any illegal act.
  • Your Loss of Use of Primary Residence occurred prior to the time of your enrollment (or re-enrollment) in the Program.


"Call to Active Military Duty" Defined: "Call to Active Military Duty" means you are a member of a branch of the United States Military Reserves or Guard and are called to active duty in defense of the United States of America for at least 30 consecutive days. You must provide documentation, including your activation orders.

Benefit Period: Premier and Preferred Credit Protection benefits for being Called to Active Military Duty will commence as of the beginning of the billing period in which we determine that you have provided satisfactory evidence of your being Called to Active Military Duty. Benefits will be provided for not more than a total of 12 billing periods and will stop, if sooner, as of the beginning of the billing period in which the Called to Active Military Duty ends or you fail to provide satisfactory evidence that the Called to Active Military Duty is continuing.

Exclusions

You do NOT qualify for Called to Active Military Duty benefits if:

  • You are actively serving in a military position considered your full-time employment at the date of activation.
  • You voluntarily change your military status from a Reservist or Guard to an active military status.
  • Your date of activation occurred prior to the time of your enrollment (or re-enrollment) in the Program.


"Family Leave" Defined: "Family Leave" means your employer-approved leave of absence from employment without pay to care for a newborn, a newly adopted child, or an incapacitated family member (parent, child, or spouse). To be entitled to Family Leave benefits, the covered person must be employed at least 30 hours per week for at least 90 consecutive days before your employer-approved unpaid leave of absence, and your employer must be someone other than yourself or another member of your family. Your unpaid leave must be for at least 14 consecutive days. Also, you must provide documentation verifying that you have been granted an unpaid, employer-approved leave of absence and stating the reason for the leave of absence.

Benefit Period: Premier and Preferred Credit Protection benefits for Family Leave will commence as of the beginning of the billing period in which we determine that you have provided satisfactory evidence of your Family Leave. Benefits will be provided for not more than a total of six billing periods and will stop, if sooner, as of the beginning of the billing period in which the Family Leave ends or you fail to provide satisfactory evidence that the Family Leave is continuing.

Exclusions

You do NOT qualify for Family Leave benefits if:

  • You are retired.
  • You are self-employed.
  • You are employed by a member of your family.
  • You are a sole proprietor or a partner in the business in which you are employed.
  • Your Family Leave is due to childbirth, adoption or incapacity of a family member that occurred prior to the time of your enrollment (or re-enrollment) in the Program.


"Overnight Hospitalization" Defined: "Overnight Hospitalization" means you were directed by a physician to be admitted to a licensed hospital for at least one night and you remained in the hospital as directed by the physician.

Benefit Period: Premier and Preferred Credit Protection benefits for Overnight Hospitalization will commence as of the beginning of the billing period in which we determine that you have provided satisfactory evidence of your Overnight Hospitalization. Benefits will be provided for a total of one billing period.

Exclusions

You do NOT qualify for Overnight Hospitalization benefits if:

  • Hospitalization was during the first six months of the program coverage arising from an accident or illness that caused you to consult with a physician or seek medical treatment within six months prior to your enrollment in the Program.
  • Hospitalization is the result of your committing or attempting to commit suicide.
  • Hospitalization is the result of you operating any motorized transportation vehicle while under the influence of drugs or alcohol.
  • Injuries were sustained during a criminal act or in preparation for a criminal act.
  • Hospitalization is the result of intentionally self-inflicted injuries.
  • Hospitalization occurred prior to your enrollment (or re-enrollment) in the Program.


"Disaster Relief" Defined: "Disaster Relief" means you are directly impacted by an event declared a federal or state disaster and you suffer a loss of $500 or more, or you miss three or more consecutive days of work without pay. To be entitled to Disaster Relief benefits for being placed out of work without pay, the covered person must be employed at least 30 hours per week before the federal or state disaster occurred.

Benefit Period: Premier and Preferred Credit Protection benefits for Disaster Relief will commence as of the beginning of the billing period in which we determine that you have provided satisfactory evidence of your loss as a direct result of a federal or state disaster. Benefits will be provided for a total of three billing periods.

Exclusions

You do NOT qualify for Disaster Relief benefits if:

  • You did not suffer a loss in excess of $500 as a result of a federal or state disaster
  • The federal or state disaster occurred prior to the time of your enrollment (or re-enrollment) in the State Farm Bank Credit Protection Program
  • The event qualifies for coverage under a different provision of this agreement with a longer benefit period


You agree that you will not engage in any excessive use of your account after the date of a covered event for which you may receive benefits. We will determine excessive use by reviewing the prior three months of activity on your account prior to the date of the covered event. After activation of benefits, you agree that the credit limit on your account will be reduced to allow for a maximum available credit of $1,000.00. Available credit is defined as the credit limit on your account less the current outstanding balance plus pending transactions that have not posted to your account. If the available credit at the time of benefit activation is less than $1,000.00, that amount will be the maximum amount of available credit. The reduction in your credit limit will also reduce your available cash credit limit. The use of your account in violation of this subparagraph may result in a denial or discontinuation of benefits.


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State Farm Bank, F.S.B., Bloomington, Illinois ("Bank") is a Member FDIC and Equal Housing Lender. NMLS ID 139716. The other products offered by affiliate companies of State Farm Bank are not FDIC insured, not a State Farm Bank obligation or guaranteed by State Farm Bank, and may be subject to investment risk, including possible loss of principal invested. The Bank encourages any interested individual(s) to submit an application for any product(s) offered by the Bank. We also encourage you to obtain information regarding the Bank's underwriting standards for each type of credit or service offered by visiting statefarm.com® or by contacting the Bank at 877-SF4-VISA (877-734-8472). If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services. To apply for a Bank product, you may also see your participating State Farm agent.