YP3 is the Yamaha Payment Protection Program. It is not insurance, but an optional debt cancellation program you may add to your account.
YP3 helps to relieve the burden of financial obligations by canceling all or part of your monthly account balance should certain qualifying events occur.
Involuntary Unemployment & Disability – YP3 cancels, on a monthly basis, an amount equal to the greater of: (a) the minimum monthly account payment or (b) 3% of unpaid balances (calculated as of the day of the qualifying event) up to $300 a month, if involuntarily unemployment occurs for at least 30 consecutive days (6 months maximum benefit), or if a disability occurs for at least 30 consecutive days ($10,000 maximum benefit).
Loss of Life – YP3 cancels Yamaha account balances, up to a maximum of $10,000, in the unfortunate event of your death, excluding suicide.
|
