Goetz Credit Union

Protection PlansProtection Plans


Guaranteed Asset Protection (GAP)

If your vehicle is stolen or damaged beyond repair, your insurance company may only pay what the vehicle is worth -- which is often less than what you owe on your loan. Guaranteed Asset Protection helps by cancelling the difference between the vehicle’s value and the balance of your loan. Protect yourself against the unexpected with GAP. In addition, it will cancel the first $1,000 of your next loan with us when you purchase a replacement vehicle within 120 days of your primary insurance settlement.

MEMBER’S CHOICE® Credit Disability Insurance

Credit Disability Insurance is a voluntary coverage plan that helps make monthly loan payments, up to the maximum limit, should you become totally disabled due to a covered injury or illness. Exclusions may apply, see your credit insurance certificate.

MEMBER’S CHOICE® Credit Life and Credit Disability Insurance for Your Credit Card

Credit Disability Insurance covers your credit card payment payment up to the policy maximum in the event of total disability caused by covered injury or illness. You must be unable to work for at least 14 days before payment begins. MEMBER’S CHOICE® Credit Life Insurance is designed to help pay off your insured balance on your credit card if you die before the credit card is paid off. See disclosure of policy terms.

Your purchase of MEMBER’S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company, or MEMBER’S CHOICE™ Guaranteed Asset Protection (GAP) 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 Member Agreement for a full explanation of the terms of GAP. If you choose GAP, adding the product fee to your loan amount will increase the cost of GAP.
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