Launch FCU is proud to work with CUNA Mutual Group to make products available to our valued members at competitive rates. Our auto loan protection products include: Guaranteed Asset Protection (GAP), Mechanical Repair Repair Coverage (MRC), and Payment Protection/Insurance.
Guaranteed Asset Protection (GAP) is like an airbag for your vehicle loan.
If your vehicle is totaled or stolen, GAP could help fill the gap between what your car insurance will pay and what you owe on your loan, to cushion you against sudden out-of-pocket expenses. These expenses could cost you thousands of dollars.
Fair market value doesn’t seem fair if your car is totaled, because you could end up owing more on your loan than the insurance company says your vehicle is worth. Don’t let a wrecked car wreck your finances!
Call Launch FCU at 321-455-9400 and get GAP today.
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 required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the GAP Waiver 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. You may cancel the protection at any time. If you cancel protection within 90 days you will receive a full refund of any fee paid. You will receive additional information before you are required to pay the fee for this product.
State chartered credit unions in FL, GA, IA, RI, UT, VT, WI may choose GAP with or without a refund provision. Prices of the refundable and non-refundable products are likely to differ. If you choose a refundable product, you may cancel at any time during the loan and receive a refund of the unearned fee calculated by the actuarial method.
State chartered credit unions in CO and SC may cancel at any time during the loan and receive a refund of the unearned fee calculated by the actuarial method.
Mechanical Repair Coverage The miles can add up but the repair costs don’t have to.
MEMBER’S CHOICE® Mechanical Repair Coverage can help deflect some risk of costly repairs keeping your vehicle running extra miles and extra years. With different coverage levels and deductibles to choose, there’s a plan to fit your family’s budget.
Whether you depend on your vehicle for work or getting your family to school and activities, you need transportation that’s safe and reliable. The older your vehicle, the more it takes to keep it in good working order. Not making small repairs can lead to even more expensive repairs and ignoring other repairs can be dangerous.
Benefits of the program*:
- Good at any authorized repair facility in the U.S. or Canada
- Rental reimbursement: up to $35 per day for 5 days (or 10 days for a parts delay) from day one.
- 24-hour emergency roadside assistance: up to $100 per occurrence. Includes towing, battery jump start, fluid delivery, flat tire assistance and lock-out service.
- Travel expense reimbursement: up to $500 for lodging, food and rental expense when a covered breakdown occurs more than 100 miles from home.
- Transferable: if you sell your vehicle privately, the coverage can be transferred for a fee, adding resale value and appeal.
- Cancelable: receive a full refund within the first 60 days or a pro-rated refund thereafter less an administrative fee.
- No out of pocket expense at time of mechanical repair: (except for any deductible and any repairs not covered by the policy)–the covered repair is paid directly to the authorized repair facility by the plan.
- Ask about deductible options
*Program details may vary by state. Ask a Member Services Representative for details or receive a quote by calling 321-455-9400. Mechanical Repair Coverage Web copy 2 MRC-896721.1-0414-0516 © CUNA Mutual Group 2014 (continued on next page) MEMBER’S CHOICE® Mechanical Repair Coverage is administered by Consumer Program Administrators, Inc. in all states except AK and CA, where coverage is administered by Virginia Surety Company, Inc., in WA, where coverage is administered by Automotive Warranty Services, Inc., in FL, LA , OK and WI, where coverage is administered by Automotive Warranty Services of Florida, Inc. (Florida License #60023) and in AZ, where the Obligor and Administrator is Consumer Program Administrators, Inc., all located at 175 West Jackson Blvd., Chicago Illinois 60604, 1-800-752-6265. This coverage is made available to you by CUNA Mutual Insurance Agency, Inc. In those states where MEMBER’S CHOICE® Mechanical Repair Coverage is offered as insurance (form MCCU-001-MBI) it is underwritten by Virginia Surety Company, Inc.
MRC-896721.1-0414-0516 © CUNA Mutual Group 2014, All Rights Reserved.
We offer the following TruStage protection products for our members to choose from:
- Accidental Death and Dismemberment (AD&D)
- Car Insurance
- Life Insurance (Whole Life, and Term Life)
- Health Insurance
MEMBER’S CHOICE® Credit Life and Disability Insurance can help. Credit disability insurance is designed to help you make our loan payments if you are totally disabled due to a covered illness or accident. Credit life insurance may help reduce or pay the outstanding balance on your loan in the event of your death before the loan is repaid. Coverage is available at competitive rates and may be included with your loan payment.
There is no way to predict an injury, illness or your unexpected life event, but you can take steps along the way to protect your family if the unforeseen happens. Credit Disability and Credit Life Insurance is designed to do just that.
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-1390430.1-0116-0218