Loan Protection

Your loans protected. Your peace-of-mind ensured.

Our loan protection programs, and insurances, offer you and your loved ones security!

In calling my insurance company I realized they were going to only cover $20,000 of my remaining $23,000 loan that I had financed with the vehicle. This left me with $3,000 I would have had to continue to pay on for a vehicle that was totaled. This however was not the case thanks to my GAP and ADR coverage.

- Chris C.

Credit Life & Disability Insurance

Apply during the loan application process or after your loan closing!

If you apply during the loan application process, your premium will be included in your monthly payment
If you apply after closing your loan, you'll have to provide evidence of good health in order receive coverage if it has been 30 days since closing

Credit Life Insurance

Designed to reduce or pay the insured balance of your loan if you die during the term of your loan.

Credit Disability Insurance

Designed to pay your loan payments (up to the contract limit) if you become ill or disabled and are unable to work at any time during the term of you loan.

Benefits:

Family's financial security
Your credit rating
Ensures your loan won't end up in default in the event of your disability or death

*Note: This advertises the following Group Credit Insurance Policy Forms: Minnesota Mutual XXX-4000 series, and Minnesota Life MHC-XX-4000 series and XX-60000 series as well as any applicable state variations.

Eligibility

You can usually obtain Payment Protection up to the age of 65 and even up to the age of 70 in some states. Also, a medical exam is usually not required, although, general health questions may be asked. Your insurance becomes effective as soon as your loan is finalized.

Guaranteed Asset Protection (GAP) with Auto Deductible Reimbursement (ADR)

GAP
If your car is totaled for any reason, the amount of reimbursement you receive from your insurance company may be substantially less than the amount you owe on your car loan. GAP insurance can cover this financial shortfall, or gap. Otherwise, you could be left owing thousands of dollars. Coverage can be conveniently included in your loan payment for affordable protection. With GAP, members receive $1,000 towards their new GSCU auto loan if financed within 90 days from total loss of the covered vehicle.

ADR
ADR pays you back up to $500 if you pay an insurance deductible on a claim, and the best part – there is no limit on the number of claims filed!

Mechanical Breakdown Protection (MBP)

MBP or Extended Warranty
Protection against mechanical breakdowns beyond your existing manufacturer's warranty. Get the most comprehensive coverage for your car, truck, SUV, motorcycle, or ATV, at a discounted rate from your credit union.

Although you should consider refinancing your existing auto loan with GSCU, you do not need to have a consumer loan with us to qualify for this extended warranty offer.

NO Deductible
24/7 Roadside Service (365 days a year!)
Rental Car Benefits
30-Day Money Back Guarantee
Nationwide Coverage
Fully Transferable!

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Mortgage Life Insurance

The perfect addition to any home.

Mortgage Life Insurance, underwritten by Minnesota Life Insurance Company, pays off or reduces your mortgage balance in the event of your death* - helping your family keep the home they love.

In the event of your untimely death, Mortgage Life Insurance benefits are sent directly to your lending institution to pay off or reduce your mortgage debt, relieving your family or co-homeowner of a major, long-term debt. All homeowners under the age of 70 are eligible to apply.

Benefits include:

12 Months Return of Premium - After you have paid 12 consecutive premiums, you are eligible to have an amount equal to 12 months of premium payments returned to you.
Living Insurance Benefit** - If you're diagnosed with a terminal condition that leaves you with a life expectancy of 12 months or less, you have the option of accelerating payment of the death benefit while you are still alive.

* Plan does not cover suicide during the first two years of coverage.
**If two borrowers are insured for joint Mortgage Life Insurance, only one living insurance benefit will be payable under the policy.
Mortgage Life Insurance offered under Minnesota Life policy form series MHC-88-15323T, MHC-99-15730V, and any state variation thereof.

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