Hoosier United Credit Union

 
Extra Loan Options
  • Guaranteed Asset Protection (GAP) Insurance – Automobile Coverage

    Protect yourself when you borrow money for that car you have always dreamed of with HUCU's GAP Insurance!

    What is GAP?

    • It eliminates the worry you can feel by trying to fill the "GAP" between your insurance settlement and your auto-purchasing loan if the vehicle is stolen accidentally damaged beyond repair, or otherwise declared as a total loss

     

    How do I obtain GAP insurance?

    • You are eligible if you have a new or used automobile financed with HUCU!
    • Contact Us today to enroll or for more information!

     

    How much does GAP coverage cost?

    • There is a one time cost of $250.00 which is added to your loan balance, and repaid through your loan payments.
    • If you change your mind after you pay for GAP insurance, you can obtain a full refund within the first 90 days!

     

  • CUNA Mutual Credit Life Insurance – Single or Joint

    Life insurance can protect those you care about in the event something should happen to you.

    What is Credit Life Insurance?

    • If you or your joint insured is dies while you are insured for life coverage, CUNA will pay the principal balance of your loan on the date of your death, plus not more than six (6) months unpaid interest on your loan to that date
    • Maximum insurable balance per loan account is $30,000
    • Maximum age for insurance is 70 years old
    • Can be purchased as "single" where one borrower is on a loan, or "jointly" where there are two borrowers on a loan
    • Can be used for all loan types, including Visa® Credit Cards
    • The cost is rolled into your monthly loan payment

     

    What is the cost?

    • Single Credit Life = $0.085 per $100 of your monthly loan balance
    • Joint Credit Life = $0.141 per $100 of your monthly loan balance

     

    How do I get started?


     

  • CUNA Mutual Credit Disability Insurance – Single

    Disability insurance offers piece of mind if you become totally disabled.

    What is Credit Disability Insurance?

    • If you become totally disabled while you are insured for disability coverage, and are disabled for more than 14 days, on the 15th day CUNA will pay your minimum monthly payment amount due up to $600 per month
    • Maximum insurable balance per loan account is $30,000
    • Maximum age for insurance is 66 years old
    • Short 3 answer questionnaire to complete for insurance
    • Can only be purchased as "single" where there is one borrower or the primary borrower is purchasing insurance
    • Can be used for all loan types, including Visa® Credit Cards
    • The cost is rolled into your monthly loan payment

     

    What is the cost?

    • Single Credit Disability= $0.18 per $100 of your monthly loan balance

     

    How do I get started?

    • Review the eligibility requirements listed above
    • Contact Us!

     


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