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There are two
types of plans available. Payment
Protection Term Life pays off your covered loan
balance should you die before the loan is repaid. Disability
coverage makes your monthly loan payment should
you become disabled due to a covered illness or injury.
These optional
coverages are provided through CUNA Mutual Group, a mutual company
that belongs to its credit union policy holders. Here’s why:
- CUNA Mutual’s
program offers added benefits without increasing premiums
- CUNA Mutual’s
pay-out ratio is 50% higher than the rest of the industry
-
NO health questions to qualify
for coverage
- Maximums
are per loan type, not
per member
- Automatic
eligibility for most borrowers
- Immediate
coverage
- You buy
only enough to cover your obligation, just at the right time
- Simple enrollment,
and premiums are included in your payment
- CUNA Mutual
Group meets the standards set by the Consumer Federation of America
and the National Association of Insurance Commissioners
Ask your member
service representative about this valuable coverage.
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GAP insurance
provides protection in the event that your vehicle is deemed totaled
or stolen and never recovered. It is an insurance policy taken out
at the time of an auto loan closing to cover the difference between
the market value or what your insurance company will pay on your
auto loan and the remaining balance on your loan, less any deductible,
past due payments and fees. There is an additional cost of $95 for
GAP insurance that can be included in your loan or paid for upfront.
Ask your member
service representative about this valuable coverage.
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