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Payment Protection

Protect yourself and your investment with one or more of these important options.

Credit Disability & Life Insurance

Life can be wonderful. But it can also get complicated when unexpected things happen. Protecting your loan payments against the unexpected such as a disability or covered life event (including dismemberment and terminal illness) could help you protect more than your finances. It could help lighten the burden for the people you care about. Insure your loan payments today so you can worry a little less about tomorrow.

There’s no way to predict an injury, illness or other unexpected life event. You can take steps to protect your family if the unforeseen happens. Credit disability and credit life insurance may help reduce or pay off your covered loan or make your monthly loan payment, up to the policy maximum, in the event of a covered life event, injury, illness or death.

You decide which payments you want to protect and the monthly premium may be added to your loan. Coverage is designed to fit your lifestyle, it is totally voluntary, and it won’t affect your loan approval. It’s simple to apply for individual or joint coverage. You can sign up for credit insurance at your loan closing, or anytime you’d like.

Call us at 800.837.4562 to find out more.

CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Your purchase of MEMBER’S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company, is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative or refer to the Group Policy for a full explanation of the terms.

Unique ID & Copyright: CDCL-2039560.1-0218-0320 © CUNA Mutual Group 2018, All Rights Reserved

Guaranteed Asset Protection (GAP)

If your vehicle is stolen or totaled in an accident, your insurance settlement may not be sufficient to pay off your auto loan. Don't let this happen to you! LOC can help you fill in the gap between the insured value of your car and the outstanding balance of your loan with Guaranteed Asset Protection.

A low, flat, one-time fee of $400 will offset the difference and provide $1,000 toward a replacement vehicle financed through LOC. You can opt in by accepting the insurance at the time of closing and the fee will be rolled in to your loan balance. You can also add GAP insurance to your loan at any point after closing; however, the fee will have to be paid in full.

If you have any additional questions about our auto protection options, please do not hesitate to contact us at 800.837.4562

 

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