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Transit Employees Federal Credit Union
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Insurance Options

Are you protected from the unexpected?

 
MEMBER'S CHOICE® Credit Disability Insurance can help. It makes your monthly loan payment, up to the policy maximum, should you become totally disabled due to a covered illness or injury.
 
MEMBER'S CHOICE® Credit Disability is convenient, flexible and tailored to your specific needs. It offers these advantages:
 
  • Helps make your covered loan payments if you become totally disabled.
  • Helps protect your credit rating and collateral.
  • Helps reduces financial burden during recovery.
  • Requires no complicated enrollment forms or physical exam.
  • Offers the convenience of premium included in your loan payment.
 
Use the Disability Insurance Worksheet to determine if you could benefit from MEMBER'S CHOICE® Credit Disability. Then ask your loan officer about protecting your next loan.


Credit Life Insurance

 
MEMBER'S CHOICE® Credit Life Insurance gives you a way to protect your loved ones from the unexpected. It reduces or pays off your outstanding loan balance, up to the policy maximum, if you were to die before paying off the loan.
 
MEMBER'S CHOICE® Credit Life Insurance is convenient, flexible and tailored to your specific needs. It offers these advantages:
 
  • Reduces or pays off your covered loan balance.
  • Helps protect survivor's credit rating.
  • Requires no complicated enrollment forms or physical exam.
  • Offers the convenience of including premium in your loan payment.
  • Helps protect collateral against repossession.
 
Use the Life Insurance Worksheet to determine if you could benefit from MEMBER'S CHOICE® Credit Life Insurance. Ask your loan officer about protecting your next loan.
 

GAP

 
Unfortunately, things don't always go according to plan. If your vehicle is stolen, accidentally damaged beyond repair, or otherwise declared an insured total loss, auto insurance will cover the replacement value. However, you still remain liable for payment of the difference between the insurance settlement and the remaining loan balance. This deficiency can sometimes amount to thousands of dollars.
 
Guaranteed Asset Protection is a way to fill the gap. You can protect yourself against this kind of unexpected expense.
 
For more information contact a Lending Representative at (301) 289-9800, option 2. Then ask your loan officer about protecting your next loan.
 
Your purchase of MEMBER’S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company, or 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.
 
CDCL-0612-1508