Your loans protected. Your peace-of-mind ensured.
Our loan protection programs, and insurances, offer you and your loved ones security!
Credit Life & Disability Insurance
Guaranteed Asset Protection (GAP)
Mechanical Breakdown Protection
Certain restrictions apply on all loan protection products.
In calling my insurance company I realized they were going to only cover $20,000 of my remaining $23,000 loan that I had financed with the vehicle. This left me with $3,000 I would have had to continue to pay on for a vehicle that was totaled. This however was not the case thanks to my GAP and ADR coverage.
- Chris C.
Apply during the loan application process or after your loan closing!
Designed to reduce or pay the insured balance of your loan if you pass away during the term of your loan.
Designed to pay your loan payments (up to the contract limit) if you become ill or disabled and are unable to work. You must be disabled at least 14 consecutive days to be eligible.
*Note: This advertises the following Group Credit Insurance Policy Forms: Minnesota Mutual XXX-4000 series, and Minnesota Life MHC-XX-4000 series and XX-60000 series as well as any applicable state variations.
You can usually obtain Payment Protection up to the age of 65 and even up to the age of 70 in some states. Also, a medical exam is usually not required, although, general health questions may be asked. Your insurance becomes effective as soon as your loan is finalized.
If your car is totaled for any reason, the amount of reimbursement you receive from your insurance company may be substantially less than the amount you owe on your car loan. GAP can cover this financial shortfall, or gap up to the maximum 125% LTV. Otherwise, you could be left owing thousands of dollars. Coverage can be conveniently included in your loan payment for affordable protection. With GAP, members receive $1,000 towards their next GSCU auto loan if financed within 90 days from total loss of the covered vehicle.
Depreciation Protection (DPW)
Depreciation Protection protects your vehicle equity and hedges against depreciation over the life of the loan. In the event your vehicle is deemed a total loss or stolen, Depreciation Protection provides a waiver benefit equal to the difference between the vehicle value at the time of purchase, less the loan balance at the time of total loss (up to the agreement maximum or the outstanding loan balance, whichever is less). Auto Advantage
When purchasing GAP or Depreciation Protection, we will provide you with the complimentary Auto Advantage Plan which includes the Auto Deductible Reimbursement (ADR) benefit and other valuable services*. The Auto Deductible Reimbursement will reimburse you up to five hundred dollars ($500) per loss (UNLIMITED losses per year). Filing your claim is simple and easy through the online claims website! Ask your loan representative to learn more.
File Your ADR Claim
*Auto Deductible Reimbursement (ADR) is one benefit of the Auto Advantage Program. Other benefits include Personal ID Resolution Consulting and Warranty Vault™
MBP or Extended Warranty Protection against mechanical breakdowns beyond your existing manufacturer's warranty. Get the most comprehensive coverage for your car, truck, SUV, motorcycle, or ATV, at a discounted rate from your credit union.Although you should consider refinancing your existing auto loan with GSCU, you do not need to have a consumer loan with us to qualify for this extended warranty offer.
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