Loan Insurance


You could lose more than your vehicle if it is stolen or involved in a major accident - you could lose your investment. Most insurance policies only cover the value of your vehicle - something that rapidly declines during the first few years of ownership - which means your loan or lease balance could be higher than the value of your vehicle. Guaranteed Auto Protection (GAP) covers the difference in the balance on a car and its declared value (as determined by your insurance carrier) in the event that it is damaged beyond repair or stolen and never recovered.


  • Loan balance after one year $15,000

  • Value of car after one year $10,000

  • Insurance settlement $10,000

  • Deficiency balance $5,000

  • GAP pays $5,000

  • You owe $0

Without GAP coverage, you'd be responsible for the $5,000 deficiency balance. Ask how you can add GAP insurance to your loan today.


Credit life insurance reduces or pays off the balance of an insured credit union loan in the event of your death. The coverage spares your family from the additional financial obligation of repaying your loan. Since credit life insurance covers a specific loan, the benefits from other life insurance plans can be used for your family's day-to-day living expenses or providing for future needs, such as a child's college education. Credit life insurance costs just pennies a day.

  • Maximum Benefit Amount: $55,000 per insured

  • Maximum Benefit term: 120 months

  • Age Maximum/Termination: 70


Credit disability insurance makes your loan payments for as long as you are unable to work due to a covered disability. The cost is reasonable, and it may help create a safety net by helping you avoid missing loan payments. The premium is built into your loan payment so there are no additional payments to setup.

  • Maximum Benefit Amount: $30,000 per insured per disability, $600 monthly maximum

  • Maximum Benefit Term: 120 months

  • Age Maximum/Termination: 66

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