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MEMBER’S CHOICE® Credit Life and Disability Insurance

Protection from MEMBER’S CHOICE Credit Life and Disability Insurance is available with any of our loan products and knowing you’re protected could help bring you peace of mind. With payment protection like MEMBER’S CHOICE Credit Life Insurance, if you pass away and your claim is payable, your eligible loan balance is reduced or paid off. MEMBER’S CHOICE Credit Disability Insurance may help you make your loan payment, up to the policy maximum, if you become totally disabled due to a covered injury or illness. Check with your loan officer for more details on MEMBER’S CHOICE Credit Life and Disability Insurance on your next loan. If coverage is issued, the premium will be included in your loan payment.

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Credit Life Insurance

  • Joint coverage available
  • Must be under the age of 70
  • Maximum Amount of Insurance is $50,000 

Credit Disability Insurance

  • Joint coverage available
  • Must be under the age of 70, working 25 hours a week
  • Maximum Monthly Total Disability Benefit is $850
  • Maximum Amount of Insurance is $50,000  

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 loan representative, or refer to the Group Policy for a full explanation of the terms. CDCL-1612322.1-1016-1118

Insurance products sold through or in the credit union are not insured by the National Credit Union Administration and are not issued, guaranteed, or underwritten by the credit union or the National Credit Union Administration or any other federal government agency; and there is no requirement or obligation to purchase insurance from the credit union or any subsidiary, affiliate, or particular unaffiliated third party as a condition to obtaining a loan, and a decision as to insurance agents will not affect the credit terms in any way. The credit union may not condition an extension of credit on an agreement not to obtain, or a prohibition on the applicant from obtaining an insurance product or annuity from an unaffiliated entity.

Mechanical Repair Coverage

The miles can add up, but the repair costs don’t have to. MEMBER’S CHOICE® Mechanical Repair Coverage can help deflect some risk of costly future, covered repairs keeping your vehicle running extra miles and extra years. With different coverage levels and deductibles to choose, there’s a plan to fit your family’s budget. 

Whether you depend on your vehicle for work or getting your family to school and activities, you need transportation that’s safe and reliable. The older your vehicle, the more it takes to keep it in good working order. Not making small repairs can lead to even more expensive repairs and ignoring other repairs can be dangerous. 

Benefits of the program1:

  • Good at any authorized repair facility in the U.S. or Canada
  • Rental reimbursement: up to $35/day for 1-5 days (1-10 days for parts delay. Available on first day of covered repair.)
  • 24-hour emergency roadside assistance: up to $100 per use. Includes towing, battery jumpstart, fluid delivery, flat tire assistance and lock-out service.
  • Travel expense reimbursement: up to $200 per day 1-5 days for food, lodging and rental when a breakdown occurs more than 100 miles from home. (Not available to NY residents.)
  • Transferable: to increase resale value. Only if sold privately. Subject to transfer fee.
  • Cancelable: receive a full refund within the first 60 days or a pro-rated refund thereafter less an administrative fee.
  • No out of pocket expense at time of mechanical repair: (except for any deductible and any repairs not covered by the policy)–the covered repair is paid directly to the authorized repair facility.
  • Ask about deductible options

1Program details may vary by state. Ask a Loan Representative for details or receive a quote by calling 1-800-276-5775 ext 2053. 

Mechanical Repair Coverage is provided and administered by Consumer Program Administrators, Inc. in all states except CA, where coverage is offered as insurance by Virginia Surety Company, Inc., in FL, LA, and OK, where coverage is provided and administered by Automotive Warranty Services of Florida, Inc. (Florida License #60023 and Oklahoma License #861338), all located at 175 West Jackson Blvd., Chicago Illinois 60604, 800.752.6265. This coverage is made available to you by CUNA Mutual Insurance Agency, Inc. In CA, where Mechanical Repair Coverage is offered as insurance (form MBIP 08/16), it is underwritten by Virginia Surety Company, Inc. MRC-1613248.1-1016-1118 © CUNA Mutual Group 2016, All Rights Reserved. 

Guaranteed Asset Protection (GAP) Waiver

If your vehicle were to be totaled by accident or stolen, your insurance company would typically pay the actual cash value. That may be less than its actual retail value. It is often considerably less than the actual amount you still owe on your loan. GAP can provide valuable protection during the early years of your car's life if you have a loan.

If a protected loss occurs, GAP may cancel the difference between your primary insurance settlement and the current outstanding balance on your loan. GAP is designed to protect your vehicle loan. It may also protect your vehicle insurance deductible as part of the GAP amount.

GAP through Firelands Federal Credit Union may also provide you with $1000.00 toward the purchase of your next vehicle if you have a total loss and finance your new vehicle with us within 120 days after your primary insurance company issues a settlement check. This $1000.00 would make a great down payment wouldn’t it?

The best part is that we sell GAP at a very competitive price. It can help fill the gap between what your vehicle insurance will pay and what you owe on your loan, to cushion you against sudden out-of-pocket expenses if your vehicle is totaled. If you are interested in adding GAP, please call the credit union and tell us you would like to speak to a loan officer about our GAP waiver. 

Your purchase of MEMBER’S CHOICE® Guaranteed Asset Protection (GAP) is optional and will not affect your application for credit or the terms of any credit agreement you have with Us. Certain eligibility requirements, conditions, and exclusions may apply. You will receive the contract before you are required to pay for GAP. You should carefully read the contract for a full explanation of the terms. If you choose GAP, adding the GAP fee to your loan amount will increase the cost of GAP. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid. GAP-1618050.1-1016-1118. 


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