Loan Related Insurance

An excellent value in comparison to other financial institutions

Some benefits of these products include:

• Loan Related Value Added
• Low cost
• Peace of mind for your family
• Reduced financial burden during a period of disability
• Assistance in protecting your credit rating and assets

Guaranteed Asset Protection (GAP)

Protects the borrower against financial loss in the event their vehicle is totaled or stolen. Pays the difference between the Actual Cash Value Settlement (provided by the primary insurance company) and the outstanding loan balance. GAP can be purchased at any time as long as the loan exists at the Credit Union. GAP is recommended for loans that exceed 80% of the loan-to-value ratio. (This program is underwritten by Balboa Insurance Company.)

Payment Protection (Credit Life) on a Consumer Loan

Receive single or joint coverage for almost any consumer loan, which will pay off the outstanding balance (up to $50,000) in the event of death. For questions regarding enrollment call our Loan Officer. For questions regarding claims call our Insurance Services Department. (This program is underwritten through Minnesota Life.)

Payment Protection (Credit Disability) on a Consumer Loan

This program makes your monthly loan payment, for almost any type of consumer loan, if you become totally and continuously disabled by a covered sickness or accident for 14 days or more. For questions regarding enrollment call our Loan Officer. For questions regarding claims call our Insurance Services Department. (This program is underwritten through Minnesota Life.)

* Eastern Financial Florida Credit Union, a division of Space Coast Credit Union, is not affiliated with any of the above mentioned insurance companies or brokerage services companies. Eastern Financial Florida Credit Union endorses all of the above mentioned programs.