 TITLE: What Is a Payment Protection Plan? CONTENT: When Are You Covered Under a Payment Protection Plan?\n-----------------------------------------------------\nIf you're curious about payment protection plan coverage, you'll first need to find out whether any of your lenders even offer a plan; call them to find out and ask about the rules, fees and other details.\nTo qualify for a payment protection plan, you must meet certain criteria set out by your issuer or lender. For example, some may require you to have been employed for at least a few months prior to enrolling, or you might not be covered for job loss if you were self-employed, worked for a family member, had seasonal work or had your hours reduced. You may also be precluded from signing up for protection if your disability took place too recently relative to when your plan would kick in. You may be expected to produce certain documentation to prove your disability, job loss or other condition. Finally, it's important to understand the caps on your benefits, such as how long they last.\nWhen it comes to using your benefits, each creditor or lender will have different requirements for what types of events allow you to do so. For example, Discover offers two options: a short-term plan and long-term plan, and each has its own criteria. Under the long-term plan, you can qualify for up to 24 months of debt protection if you face a major hardship such as hospitalization, death of a spouse or immediate family member, job loss or disability. The short-term option covers you for three months for less drastic life events, such as marriage, moving, childbirth, adoption or divorce. END