Loan Protection and Insurance

MidUSA Credit Union offers a wide arrange of loan coverages including all of the options below.  If you would like more information on any of them, please reach out to our Loan Department for more information.  Email us or call 513-420-8640.

 

Ancillary Insurance Products

 

 

Depreciation Protection Waiver (DPW)

Protect the investment you’ve made in your new vehicle! If you desire the peace of mind that comes from knowing the money you invested in your auto is protected, then you may want to consider Depreciation Protection Waiver (DPW).

If your auto is ever totaled or stolen and not recovered at any time over the life of the loan, DPW will kick in and help by waiving some or all your loan balance in the event of the total loss of your auto. The waiver benefit is equal to the difference between your auto’s MSRP or retail value at the time of DPW purchase, less the amount of your loan balance at the time of total loss. (The benefit cannot exceed the DPW addendum limit or your outstanding loan balance at the time of total loss.)

Benefits of DPW

  • Benefit triggered by collision or comprehensive total loss, including theft
  • Life of loan protection
  • No mileage, make or year restrictions
  • 100% refundable in the first 60 days
  • Accidental Death protection included, which provides for cancellation of up to $1,000 of your outstanding loan balance if you die in an accident

DPW is ideal for those who

  • Put money down or have equity in the vehiclet
  • Make accelerated loan payments
  • Desire protection from vehicle depreciation
Call 513-420-8640 and ask to speak with a MidUSA financial service advisor for more information.

*Maximum Waiver benefit can vary depending on level of protection selected and/or offered. Please reference the waiver addendum for specifics regarding maximum waiver amounts.
Guaranteed Asset Protection (GAP)
If the unexpected happens to your vehicle, you could lose more than just the vehicle; you could lose your entire investment. For example, if you get into an accident and your vehicle is totaled, you can only expect your auto insurance to cover the residual value of your vehicle. If by chance you owe more than the residual value, you could be required to cover the difference out of pocket! With MidUSA’s Guaranteed Asset Protection, you can bridge the “gap” between the amount you owe and the amount your insurance company will pay on your behalf.
GAP insurance provides protection on both new and used vehicles with 4 great benefits:

  1. Low cost protection at a one-time fee of $449 that comes with a 60 day free look
  2. Protection up to 84 months and loan-to -value up to 125%
  3. GAP will cover up to $1000 of your deductible if there is a “gap” after the primary insurance settlement is paid!*
  4. The GAP premium of $449 can be added to your loan with minimal effect on your monthly payment. GAP can also be added after the loan closes.

Call 513-420-8640 and ask to speak with a MidUSA financial service advisor for more information.

* Deductible is covered as part of the deficiency balance and is not paid directly to the borrower

Mechanical Breakdown Protection
Avoid costly vehicle repairs with Route 66 and their top-of-the-line extended warranty plans. Their Mechanical Breakdown Protection extends coverage to virtually any make and model, regardless of age or mileage. Coverage is even transferable if you sell your vehicle before the plan expires.

Benefits you can count on:

  • Claims paid at the time of repair directly to the repair facilities
  • Repairs can be done at a licensed facility of your choosing
  • No deductible! *
  • Cost of coverage can be integrated into your loan with virtually no effect on your monthly payment
  • 30 day money back guarantee

All plans come with additional benefits:

  • 24 hour road side assistance
  • Rental vehicle assistance
  • Total loss refund

Buying a vehicle is one of the largest purchases you’ll make, so protect it with a Route 66 warranty! Call 513-420-8640 and ask to speak with a MidUSA financial service advisor for more information.

*Member is responsible for diagnostics, fluids, and any applicable sales tax.
Debt Protection

Life is unpredictable. You may worry about unexpected, real-life events that could leave you scrambling to pay your monthly bills. Debt Protection can give you peace of mind by helping to relieve financial pressure. With Debt Protection, your loan or your monthly loan payments may be cancelled up to a maximum amount. You select the plan that provides protection due to death, disability or involuntary unemployment.

Benefits of Debt Protection:

Protection

  • Single and joint coverage available
  • Safeguard your family’s financial security
  • Preserve your credit rating

Convenience

  • Add to your monthly payment
  • Simple claims process
Eligibility

  • Protection to age 70
  • A few eligibility questions only, no medical exam

Contact one of our Loan Representatives for a quote today. Call 513-420-8640.

**Your purchase of any of the above ancillary products is optional.  Whether or not you purchase any of these products will not affect your application for credit or the terms of any existing credit agreement you have with us.

 

Insurance Options

 

 

Auto and Homeowner’s Insurance

As a credit union member, you qualify for group rates, which could save you money on your auto or homeowner’s insurance and your rate is guaranteed for a full year. Get an auto or homeowner’s insurance quote online in minutes by visiting the link below or call 1-855-483-2149!

Car and home insurance. Get a quote. TruStage Insurance Agency

TruStage® Auto & Home Insurance Program is made available through TruStage Insurance Agency, LLC and issued by leading insurance companies. To the extent permitted by law, applicants are individually underwritten; not all applicants may qualify. Discounts are not available in all states and discounts vary by state. A consumer report from a consumer reporting agency and/or motor vehicle report will be obtained on all drivers listed on your policy where state laws and regulations allow. Please consult your policy for specific coverages and limitations. The insurance offered is not a deposit and is not federally insured. This coverage is not sold or guaranteed by your credit union.

Life Insurance

To protect the ones you treasure most, you need the right life insurance plan. Your family could face challenging financial obligations if you’re not there. Plan for them now with benefits to help with:

  • Funeral costs and final medical bills
  • Mortgages and other outstanding debts
  • Food, utilities and other living expenses
  • College or childcare costs
  • Your spouse’s retirement

Not sure how much or what type of insurance you need? A licensed TruStage representative can help you understand your options. Call now for a personalized needs assessment, accurate answers to your questions, and affordable, versatile options to fit your lifestyle and budget. Let us help you take care of your greatest treasure. For more information, click the link below or call toll-free: 1-855-860-7483.

Life Insurance. Act Now. Tru-Stage Insurance Company.

TruStage® Life Insurance is made available by TruStage Insurance Agency, LLC and issued by CMFG Life Insurance Company, PO Box 61, Waverly, IA 50677‑0061. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by your credit union. © 2018 TruStage Insurance Agency.

Accidental Death and Dismemberment (AD&D) Insurance

No one expects a serious accident or injury, yet sometimes the unexpected happens. Transamerica Premier Life Insurance Company and MidUSA CU want you to know how Accidental Death and Dismemberment (AD&D) insurance could help you plan to protect your family’s future. AD&D coverage includes benefits for dying or dismemberment as a result of a covered accident. In addition, benefits for covered accidents also include:

  • Common Carrier Accidental Death pays twice the face value of your additional coverage if your loss occurs on a common carrier
  • Education Assistance pays a benefit for each dependent child who is enrolled as a full time student in an institution of higher learning
  • Anti-inflation benefit increases the benefit up to 125% of the original amount of coverage, after two years of continuous coverage
  • Coverage for accidental loss of hearing, limb, eyesight, speech and more

Credit union members are guaranteed acceptance and no physical exam or health questionnaire is required. AD&D insurance offers an easy way to help plan for your family so even the unexpected doesn’t catch you unprepared. To learn more, call 1-855-882-9536.