Payment Protection
Protect yourself and your loved ones…
For your protection, we offer two types of Payment Protection for your loans – Credit Life and Credit Disability Insurance. This protection removes the burden and obligation of unpaid loans from loved ones in the case of the death or debilitation of the primary borrower.
Credit Life Insurance
Designed to pay off the insured balance of your loan if you die during the term of the loan.
Credit Disability Insurance
Designed to pay your loan payments (up to the insurance contract limit) if you become disabled due to a covered accident or illness and unable to work for a period of 30 days or more during the term of you loan.
Payment Protection can be purchased for most new and used auto loans, as well as other consumer loans. For your convenience, the coverage is written directly into your monthly payment.
GAP Insurance
Most new cars depreciate thousands of dollars as soon they are purchased. Nearly all cars depreciate faster than they are paid. Unfortunately, if your vehicle is stolen, accidentally damaged beyond repair, or otherwise declared a total loss, you are still liable to pay the difference, or the “gap,” between your insurer’s settlement and your loan balance.
So what can you do to protect yourself?
For only $225.00, GAP insurance can be added to any new or exstiing car loan at ABE FCU.
For only $250.00 GAP insurance can be added to any new or existing motorcycle loan at ABE FCU.
Mechanical Repair Coverage
Getting an auto loan is about more than just the right rate. It’s also about having the right protection.
Mechanical Repair Coverage (MRC) helps pay for covered repairs on your car when unexpected breakdown occurs. For a few dollars a month, you can protect your vehicle and your finances from expenses that could total to hundreds or even thousands!
The MRC plan is:
- Good at authorized automobile dealers or repair facilities in the U.S. and Canada.
- Transferable if you sell your vehicle to a private party.
- Cancelable at any time on a pro-rata basis.
- Convenient, with toll-free customer service and communications.
- Hassle-free because the repair facility is paid directly by the plan.
- Flexible, since you can choose the coverage and terms (months and miles) that match your vehicle and your driving habits.
- Call 888-751-2709, Monday – Friday 8AM to 7PM, Saturday 9AM to 2PM Central Time
Auto Insurance
Receive quote for insurance : Choose – American Broadcast EFCU from Credit Unions list or call 1-888-380-9287.
