What is MEMBER’S CHOICE?
Disability and Credit Life Insurance?
There’s no way anyone can prepare for an injury, medical-related illness or an unexpected death, but you can take steps along the way to make sure your family is provided for, if the unforeseen were to happen. MEMBER’S CHOICE Credit Disability and Credit Life Insurance helps pay your loan so you or your loved ones don’t have to.
How does it work?
If you have a balance on your loan and are totally disabled due to injury, become ill, or in the event of an unexpected death, MEMBER’S CHOICE Credit Disability and Credit Life Insurance, can help. You can cancel within the first 30 days for a full refund. Or any time after that if you change your mind. If at any point you have questions,
or if your family needs to file a claim, simply contact your credit union.
Why is it valuable?
MEMBER’S CHOICE Credit Disability and Credit Life Insurance works in two different ways. You and your family won’t have to make loan payments if you’re totally disabled due to an injury or medically ill. It will help pay your loan until you’re fully recovered, or in the event of an unexpected death, it will pay off the loan.* Savings, salary, or payoffs from other life insurance may be protected, giving your family financial freedom when they need it most.
*For terms of your contract agreement; up to your policy maximum.
MBP (Mechanical Breakdown Protection)
If you are considering an extended warranty, before you decide, ask us for a quote on our MBP for your covered auto repairs, with a zero deductible. We have seen our members save hundreds, sometimes even more by getting the MBP offered by the Credit Union instead of the dealer’s extended warranty.
Guaranteed Auto Protection (GAP)
How much of your car’s loan balance is uninsured?
$20,000 Your Loan Balance
-18,000 Your Insurance Paid
$2,000 Deficit
PAID IN FULL WITH GAP
If your vehicle is totaled or stolen, your primary auto insurance may NOT pay off your loan! Most insurance settlements are based on ACV – Actual Cash Value, which is usually low Blue Book! You could end up having to pay the difference between the insurance settlement and what you owe on a vehicle you no longer have! GAP insurance may cover the difference between your primary insurance settlement and the pay-off of your loan! PLUS an additional $1,000 towards your replacement vehicle if you return to the Credit Union for your financing! All this for a one-time fee of $399, which can be included in your loan!
