Accidental Death and Dismemberment
Each eligible member is provided with a $2,000 FREE Accidental Death and Dismemberment (AD&D) benefit without cost or obligation, subject to the underwriter’s terms and conditions. Additional coverage may be purchased at low, affordable group rates.
Automobile GAP (Guaranteed Asset Protection) Insurance
You could lose more than your vehicle if it is stolen or involved in a major accident. For the low cost of $350 you can protect your investment with GAP (Guaranteed Asset Protection). Most insurance policies only cover the value of the vehicle – something that rapidly declines during the first few years of ownership – your loan value could be higher than the value of your vehicle. GAP Insurance protects you for the difference between what your vehicle is worth and the pay-off amount (up to the limits of the coverage you purchase) of your loan in the event your vehicle is damaged beyond repair or stolen.
GAP also offers an Auto Deductible Reimbursement Benefit that pays up to $500 per loss (limit of two (2) losses per year) when a loss is filed and paid by the auto insurance company for a covered auto the member owns or leases evidenced by the title or registration, and insures under an Auto Insurance Policy designating the member as the named insured.
The coverage is effective upon the date of enrollment and can continue for five (5) years or until the loan is repaid.
Example: When you purchase a vehicle for $30,000, that’s what the vehicle is “worth”. After driving the vehicle for a year, the value may drop to $20,000 and you still may owe $24,000. If you were to have an accident, the insurance company would pay you for the value of the car ($20,000) rather than what is owed on the car ($24,000), leaving you with a $4,000 GAP in coverage. If you’ve taken the GAP policy when you got your loan with us, your GAP Insurance would cover the $4,000 GAP, plus GAP will give you $1,000 towards the purchase of a new vehicle if it’s financed through Northeast Community Credit Union.
If you have purchased your vehicle in the last 18 months and did not elect to take the GAP policy at the time of financing, you can still purchase GAP Insurance. The GAP insurance can be added to your loan so that you won’t have any out of pocket expense. See a loan expert for full details.
Credit Life & Disability Insurance
We offer a credit life and disability insurance plan that will pay off or reduce your loan balance if you die, or take over your payments (up to the contract limit) if you become disabled and are unable to continue working. The cost of the premium is included in the loan payment.
Veterinary Pet Insurance policies provide both protection for pets and peace of mind for pet owners. These policies mean finances won’t get in the way of giving your pet the care it needs. The plan covers dogs, cats, birds, and exotic pets for medical problems and conditions relating to accident, illness, or injury.
Mechanical Breakdown Protection
This product provides you with valuable protection against costly vehicle repairs. You can be sure your investment is protected when faced with an unexpected mechanical or electrical failure. As a result, you will enjoy worry-free driving with the peace of mind that comes from knowing that tomorrow’s repair costs is paid for at today’s prices.
TruStage Life Insurance encompasses a full portfolio of term life and whole life products to meet your unique needs. Find the life insurance protection you need to build financial security.