Loan Protection Products
Member’s Choice Credit Life and Disability Insurance
Planning for the future is about making the best choices for you and your family, whether it's improving your standard of living or protecting your financial future.
Protecting your financial future; choosing to take out loans to buy a new car, finance a special vacation, or renovate your home are ways you improve your standard of living. Planning your family's financial future by protecting your loans with credit insurance can help your family keep its standard of living if your income is reduced or eliminated due to a disabling injury or illness or your unexpected death..
The benefits of Member Choice payment protection:
- Simple and quick enrollment- on your enrollment document, choose the credit insurance you prefer
- Immediate coverage-when the loan closes, you’re covered
- Easy payment-premium is included in monthly loan payment
- Financial security-coverage reduces or pays off your loan balance in the event of death or makes loan payments in the event of disability
- Peace of mind-know that your family won’t struggle to make loan payments
- Complements existing insurance-credit life and credit disability insurance covers your loan payments so other funds can be used to care for your family’s day to day expenses.
- Maintains family’s living standard-loan payments are made so family assets and savings are preserved.
Member’s Choice Home Mortgage Protection
Keeping your home in the family is critical if you or your co-borrower dies or becomes disabled. Here’s a mortgage insurance plan that makes it easy and affordable-and it’s available only to credit union members.
Home Mortgage Protection will reduce or pay off your mortgage if you or your co-borrower should die.
This life insurance protection is available to members 18 through 69 years of age.
In addition to providing coverage to you, the same amount of life insurance is available to your co-borrower. The premium for the co-borrower is only one-half of your premium. Only one benefit will be paid should you both die simultaneously, and coverage ends upon death of the first insured.
The disability option is available for an additional charge per month. In the case of a covered disability, your monthly mortgage payment will be made.
(GAP) Guaranteed Asset Protection
Fill in the GAP on your next vehicle loan! There could be a big difference between what your insurance will pay and what you owe.
Most cars depreciate by thousands of dollars as soon as they are purchased. Unfortunately, if your vehicle is stolen, accidentally damaged beyond repair, or otherwise declared a total loss, you are still liable to pay the difference, or the “gap” between your insurer’s settlement and your loan balance. That gap will come out of your pocket for a vehicle that, for all practical purposes, no longer exists.
GAP is a low-cost protection plan that pays the potentially high-cost difference between your insurance settlement and your loan balance.
Route 66 Extended Warranty
- Towing
- Flat Tire Assistance
- Battery Jump Starting
- Lock-out Service
- Safe and Secure Package
- Minor Adjustments
- Rental Car Allowance
Route 66 Warranty has a complete line of coverage designed to keep your vehicle on the road. Even the most reliable vehicle can develop mechanical problems, that’s why so many people depend on Route 66 Warranty. No matter where you travel in the United States, you're covered against major mechanical expenses and there is NO DEDUCTIBLE on covered parts and labor. All of our plans come with 24 hour/7 days a week Emergency Roadside Service. Available plans include: drive train coverage, deluxe coverage and Factory type coverage.
Added benefits: 30 day money-back guarantee. Coverage is transferable.
Please feel free to contact our Loan Department if you have any questions regarding any of these protection products at 207-872-2771.
