Loan Protection Insurance
Credit Life and Credit Disability Insurance
You can have the valuable financial protection that pays when you need it most for just a few dollars a month. Credit Life protects your family and estate by paying off your loan blanch upon your death. Credit disability makes your monthly loan payments if you are unable to earn a regular wage due to a covered illness or injury.
GAP Insurance
Protects members against financial loss in the event your vehicle is declared a total loss due to theft, collision, fire, or any insured peril. GAP Protection covers the difference between your primary insurance carrier settlement and the payoff of your loan on the date of the loss.
Guaranteed Asset Protection (GAP) Insurance
You could lose more than your vehicle if it is stolen or involved a major accident. You could lose your investment. Because most insurance policies only cover the Actual Cash Value of your vehicle - something that rapidly declines during the first few years of ownership - your loan balance could be higher than what your insurance company will pay in the case of a claim. GAP has been designed to take care of this potential problem. They will cover your vehicle for up to 125% of its value.
What Does Gap Cover?
GAP covers the difference between your primary carrier insurance settlement and the payoff of your loan on the date of the loss. Included in this coverage is your insurance deductible, which is limited to $1000.
It's Easy to Be Covered.
GAP insurance is available for automobiles, vans, and light trucks, including SVUs. Both new and used vehicles are eligible for coverage. You can sign up for GAP when you apply for your vehicle loan. For your convenience, the amount can be included within your monthly loan payment. The GAP premium is a small fee you can add to your loan amount. You can choose to pay a monthly rate instead of the flat fee.
Make sure you protect your automobile investment. Get GAP insurance on your next auto loan
