Credit Insurance Products

MEMBER’S CHOICE® Credit Disability Insurance is a voluntary coverage plan that helps make monthly loan payments, up to the policy maximum, should you become totally disabled.

MEMBER’S CHOICE® Credit Life Insurance is a voluntary coverage that can help reduce or pay off your loan balance, up to the policy maximum, if you or your covered co-borrower pass away.

Your purchase of MEMBER’S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company, is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your credit union loan representative, or refer to the Group Policy for a full explanation of the terms. CDCL-3011536.1-0320-0422

GAP (Guaranteed Auto Protection)

If your vehicle is in an accident and is declared a total loss, most insurance companies will only pay up to the book value of the vehicle. Since new cars drop in value the moment they leave the car lot, the book value is often less than the amount that is owed. If a car is wrecked, the borrower is responsible for the difference between what the insurance company pays and what is owed on the car. GAP helps to cover this amount for you if your vehicle is wrecked.

EXTRA BONUS: If you have to use GAP, it even gives you a $1,000.00 down payment on your next auto loan with 802 Credit Union. First the loan is made and then it is submitted to our GAP provider, which in turn sends a check for $1,000.00 to pay down on your loan.

For more details and current pricing on GAP, please contact your Credit Union loan representative.