Credit Life & Disability Insurance
Who would make your loan payments if you couldn't work due to a disability? In the event of an unexpected life event, who would pay your loan so your family wouldn’t have to?
There's an easy answer at SeaComm: Credit Life & Disability Insurance, underwritten by CMFG Life Insurance Company. This coverage is designed to help ease the financial burden of your loan obligation for you and your family in the event of an unexpected life event, accident or illness.
Credit Life & Disability Insurance is available right at the Credit Union, and you decide what loan payments to protect. Follow a few steps to apply while signing your loan paperwork. The protection begins the moment you sign up.
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-1326566.1-1015-1117
Credit Life, Accidental Dismemberment, or Disability Claim? We are here to help!
In your time of need, our claims process is quick and easy. If you elected credit life or disability on your loan, you can use this convenient claims process to quickly and easily file your insurance claim.
To begin, please fill out a claim form at myclaimportal.cunamutual.com
If you prefer, call us at (844) 707-4964 to begin the process and a CUNA Mutual Group Claims Specialist will guide you through the process.
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. MEMBER’S CHOICE® credit life and credit disability insurance is underwritten by CMFG Life Insurance Company.
Guaranteed Asset Protection (GAP)
The second you drive your new car off the lot, it drops in value and keeps dropping. GAP is like an airbag for your vehicle loan.
The greatest gap between your loan value and the fair market value usually occurs in the first years of your loan. The second you drive your new car off the lot, it drops in value and keeps dropping. Value often drops to 78% in one year, and 46% in 5 years.¹ But your loan value doesn’t decrease as fast, creating a gap. It may no longer be enough to protect your car; you may want to consider optional loan protection as well. Fortunately, you can now fill this gap and protect your loan and your finances with GAP. GAP is like an airbag for your vehicle loan. It can help fill the gap between what your vehicle insurance will pay and what you owe on your loan.
What is GAP?
GAP is designed to cancel the difference between your primary insurance settlement and the outstanding loan balance, up to the contract maximums, in the event that your GAP protected vehicle is deemed a total loss due to an accident or theft.
It's easy to be protected.
You can sign up for GAP when you apply for your vehicle loan. There's no underwriting, no red tape, no hassles. And for you convenience, the GAP Fee can be rolled into your monthly loan payment. The GAP Fee is fully refundable if you cancel the protection within the first 90 days.
Contact one of our loan officers for more information about the benefits of GAP.
Your purchase of MEMBER’S CHOICETM 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-1326578.1-1015-1117
¹ % for a typical vehicle in America. Edmunds, “How long should my vehicle loan be?” October 2018 http://www.edmunds.com/car-loan/how-long-should-my-car-loan-be.html
*Please note that insurance is not a deposit or obligation of the credit union, and is not required to obtain loans from the credit union. The insurance is not insured by NCUA; it is not underwritten, issued, or guaranteed by NCUA or any other Federal Government Agency; and is not required as a condition of the loan.
Mechanical Repair Coverage
As vehicles get older and miles add up, the likelihood for repairs increases. Mechanical Repair Coverage* can help you limit out-of-pocket costs for covered breakdowns.
To research, compare and buy Mechanical Repair Coverage click here or call (866) 478-6583, where you can take advantage of:
- Convenience - easy-to-use, 24/7 online shopping experience
- Customer service - expert service through a dedicated call center
- Monthly payments - through a convenient monthly payment plan that fits your budget
Members® Insurance Program Protecting your assets.
You trust SeaComm Federal Credit Union to provide you and your family with quality products and services to meet your financial needs, so we've joined with a dedicated team of insurance professionals to bring you the MEMBERS® Auto and Homeowners Insurance Program.
Benefits of the program include property and casualty coverage solutions that are preferred by most credit unions and their members. With convenient e-services, you can pay your bill or make changes to your policy, even report a claim. Plus, you'll receive fast, easy access to claims service 24-hours a day.
The MEMBERS Auto & Home Insurance Program is underwritten by leading insurance companies, including Liberty Mutual Insurance Company and its affiliates, 175 Berkeley Street, Boston, MA. The insurance offered is not a deposit and is not federally insured or guaranteed by your credit union and may lose value.
The insurance is not insured by NCUA; it is not underwritten, issued, or guaranteed by NCUA or any other Federal Government Agency
*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 WA, where coverage is provided by National Product Care Company and administered by Consumer Program Administrators, 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 #44198051), 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. Coverage varies by state. Replacement parts may be used or remanufactured. Be sure to read the Vehicle Service Contract or the Insurance Policy, which will explain the exact terms, conditions, and exclusions of this voluntary product. MRC-2341946.2-1020-1122 © CUNA Mutual Group 2020