Protect Your Loan
A loan is a serious commitment. These additional products can help protect that commitment when the unexpected happens.
Payment Protection
Debt Protection can cancel your loan balance or reduce your monthly payments if you become disabled, involuntarily unemployed or pass away. It’s a simple, affordable way to help protect your credit and ease financial stress during life’s unexpected turns.
What’s Covered
Depending on your plan, coverage may include:
- Loss of Life. Cancels your remaining loan balance up to the plan’s maximum.
- Disability. Cancels monthly payments for a specified period.
- Involuntary Unemployment. Cancels monthly payments for a specified period.
Why Consider Debt Protection?
- Helps protect your credit rating
- Reduces financial burden on your family
- Monthly cost is included in your loan payment
GAP Insurance
Guaranteed Asset Protection (GAP) insurance is optional protection for individuals who finance a new or used vehicle. GAP insurance coverage protects against financial loss in the event of total loss or unrecovered theft.
Benefits of GAP include:
Benefits of GAP include:
- Can be easily included in the amount financed and takes effect immediately
- Covers the “gap” between the value of your investment and the amount you still owe
- Covers the owner's primary insurance deductible - up to $1,000
- Protection from a potential loan deficiency
- Peace of mind knowing that your vehicle investment is secure
Vehicle Service Agreements
If you're looking for reputable extended warranty companies, you've come to the right place. Used car warranty costs can be steep, but we are committed to offering affordable services to our members. With our Vehicle Service Agreement you can protect your new or used vehicle purchase from a variety of costly repairs and unexpected problems. We offer Vehicle Service Agreements for new and used automobiles, motorcycles and recreational vehicles.
- Engine system repairs
- Transmission and transfer case repair
- Roadside assistance
- Towing
- Electrical system repairs
Frequently Asked Questions about Payment Protection
- Loss of life: Cancels the outstanding loan balance up to a specified dollar amount.
- Disability: Cancels up to a specific number of monthly payments.
- Involuntary unemployment: Cancels up to a specific number of monthly payments.
All benefits are subject to plan specific maximums.
You must meet the following to qualify for debt protection:
- Under 70 years old
- In the last two years, you haven’t been advised of, or treated for, or taken any medication for heart attack (or other heart disease or disorder), coronary artery disease, cancer, stroke, cirrhosis, AIDs, or had a positive HIV test
- Presently working 25 hours or more per week
- Not self-employed
A few key points of debt protection.
- This is entirely optional coverage, and it won’t affect your application for credit
- You can cancel anytime. If you cancel within 30 days, any fees paid will be refunded
- Involuntary unemployment that occurs within 90 days after enrollment will not be covered
- Coverage details, benefit maximums and exclusions are outlined in the sample addendum
PAYMENT PROTECTION
This product is optional
Your purchase of debt protection is optional. Whether or not you purchase this product will not affect your application for credit or the terms of any existing credit agreement you have with us.
We will give you additional information before you are required to pay for debt protection. This information will include a copy of the contract containing the terms and conditions of debt protection.
Eligibility requirements, conditions and exclusions
There are eligibility requirements, conditions and exclusions that could prevent you from receiving debt protection benefits. You should carefully read your debt protection contract for a full explanation of the terms and conditions of the debt protection program.
The Contractual Liability Policy is issued by Securian Casualty Company, a New York authorized insurer. Minnesota Life Insurance Company acts as the administrator of the debt protection program. Product availability and features may vary by state.
Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries.
Minnesota Life Insurance Company is a subsidiary of Securian Financial Group, Inc.
This product is optional
Your purchase of debt protection is optional. Whether or not you purchase this product will not affect your application for credit or the terms of any existing credit agreement you have with us.
We will give you additional information before you are required to pay for debt protection. This information will include a copy of the contract containing the terms and conditions of debt protection.
Eligibility requirements, conditions and exclusions
There are eligibility requirements, conditions and exclusions that could prevent you from receiving debt protection benefits. You should carefully read your debt protection contract for a full explanation of the terms and conditions of the debt protection program.
The Contractual Liability Policy is issued by Securian Casualty Company, a New York authorized insurer. Minnesota Life Insurance Company acts as the administrator of the debt protection program. Product availability and features may vary by state.
Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries.
Minnesota Life Insurance Company is a subsidiary of Securian Financial Group, Inc.
