Insurance and Protection
Sometimes life can hand you the unexpected. That's why we offer a variety of insurance and protection plans to help you weather the storm.
GAP Protection
Frequently Asked Questions
What is Guaranteed Asset protection?
Guaranteed Asset Protection (GAP) helps borrowers and lenders avoid financial loss by waiving all or a portion of the deficiency between a borrower’s payoff amount on their auto loan and the determined actual cash value of a vehicle in the event that a vehicle is totaled or stolen, up to a certain LTV maximum, less exclusions or limitations may apply. This is a voluntary non-insurance product.
How does gap work?
The actual cash value of your vehicle as determined by your primary insurance carrier could be less than the actual balance you owe on your loan. In the event of a total loss or theft GAP gives the difference between your outstanding loan balance and the actual cash value (ACV) of the vehicle up to the maximum LTV %. GAP may also cover up to $1,000 of your deductible if there is a “gap” after the primary insurance settlement is paid. The deductible is covered as part of the deficiency balance settlement.*
Debt Protection
Debt protection may cancel your loan balance (up to the contract limits) or monthly loan payment without penalty or added interest due to an unexpected event. You can select the optional plan that will support your family’s financial protection needs.
Protect What Matters
Life is unpredictable. There are a wide range of unexpected events that could leave you and your family scrambling to pay monthly bills. In the event of death, disability, or unemployment, you wouldn’t want your family to worry about making your loan payments.
With Debt Protection, your loan balance or monthly loan payments may be canceled without penalty or added interest.
- In the event of death, it cancels the remaining loan balance up to a maximum in the contract.
- If you become disabled, it cancels up to a maximum number of loan payments based on the contract.
- If you are involuntarily unemployed, it cancels up to a maximum number of loan payments based on the contract.
Contact us for more information. If you’re applying for a loan, your loan officer will provide pricing and the option to add Debt Protection during the loan process.
Mechanical Breakdown Protection (MBP)
Drive with the peace of mind knowing that with Mechanical Breakdown Protection (MBP) you have protection against the increasingly high cost of repairs and associated labor costs for mechanical and electrical vehicle failures.
In addition to repairing your vehicle, MBP provides services such as rental car allowance, tire protection, roadside assistance, and 24/7 towing. MBP is available for both new and used vehicles. This coverage will protect your vehicle after your warranty has expired. Ask us how you can drive with the proper protection against costly repairs!
Benefits of MPB:
- Roadside Assistance & 24/7 towing
- Rental Car Allowance
- Consequential Damage Coverage
The Family Security Plan
For over 50 years, The Family Security Plan® has been connecting credit union families with high quality affordable insurance benefits that fit your lifestyle and budget. With Jersey Shore and The Family Security Plan® on your side, you can secure a bright future for your loved ones by making informed decisions about insurance! Learn More.
TruStage Insurance
Insurance should be an important part of a solid financial plan. The key is finding coverage that fits your needs from someone you can trust. The right insurance could help give you peace of mind today.
Backed by more than 80 years of working with credit unions and their members, TruStage™ is here to help protect what matters most.
Get an instant, no-obligation quote or explore your coverage options.
Life Insurance
We make TruStage™ Life Insurance policies available to help credit union members like you protect the people who matter most in your life. Underwritten by CMFG Life Insurance Company, these plans are designed to fit your budget — because any amount of coverage can make a difference.
Auto and Home Insurance
Made available to credit union members like you, the TruStage™ Auto & Home Insurance Program provides top-quality protection designed to fit your budget.
Get your free quote online today.
*Gap is subject to limitations and exclusions, including but not limited to a loan-to-value (LTV) maximum.
TruStage™ Life insurance and AD&D insurance are issued by CMFG Life Insurance Company, and MEMBERS Life Insurance Company. Auto and Home Insurance Program are issued by leading insurance companies. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by any financial institution. Product and features may vary and not be available in all states. Corporate Headquarters 5910 Mineral Point Road, Madison, WI 53705. © TruStage
