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Can I cancel the credit protection on my bank loan?

Generally, yes. You should be able to cancel the credit protection feature on your loan. However, you should read your account agreement for cancellation information, including to learn if there are any requirements or penalties associated with cancelling this feature. You can try contacting the bank if you have debt cancellation coverage, or the third-party insurer if you have credit insurance, to obtain this information.

Last Reviewed: October 2020

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on HelpWithMyBank.gov should not be construed as legal advice or a legal opinion of the OCC.

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