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INSURANCE
Getting a loan is about more than just the right rate. It is also about having the right protection.

That is why at Food Industries Credit Union, we offer you affordable and reliable insurance you can depend on during those difficult times.

These are the different types of insurance we offer:


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Credit Life/Credit Disability Insurance
What is it?
Credit Life/Credit Disability Insurance is an optional feature of your loan that can provide peace of mind during difficult times – like an unexpected death or disability.

Credit Disability Insurance will cover your monthly principal and interest payment if you are unable to work due to illness or injury. Credit Life Insurance will pay off your entire loan balance if you die.

What is it for?
To protect your family from a sudden income loss. Credit Life/Credit Disability Insurance provides additional resources to help you get back on your feet.
Features & Benefits
  • Affordable. Decide what you and your family need and we’ll help make it affordable.
  • Easy to obtain. There are no health requirements or medical exams.
  • Supplemental benefits. Your monthly benefits will not be reduced because of other state unemployment benefits or disability income you may receive.
  • Protection options include death and disability, and are available on a single or joint basis.
  • We add the cost to your loan...no “out-of-pocket” expense
  • Does not increase your monthly payment

Ask one of our friendly loan officers about the Credit Life/Credit Disability Insurance when applying for your loan.
Additional information will also be provided before you are required to pay for the Credit Life/Credit Disability Insurance. This additional information will include a copy of the Addendum, which is the contract containing the terms of the Credit Life/Credit Disability Insurance.

Guaranteed Asset Protection (GAP)
What is it?

GAP is an optional low-cost coverage of your auto loan that pays the difference between your primary insurer’s settlement and the loan balance on items directly related to the purchase of the vehicle.

What is it for?
To protect you against financial loss in the event your vehicle is stolen or declared a total loss due to an insured peril.

GAP pays the difference between the primary auto insurance carrier’s settlement and the outstanding amount remaining on your loan.

Features & Benefits
  • It is affordable. Only $216 for the life of the loan.
  • We add the cost to your loan...no “out-of-pocket” expense
  • Does not increase your monthly payment

Ask one of our friendly loan officers about the GAP Insurance when applying for your loan. Additional information will also be provided before you are required to pay for the GAP Insurance. This additional information will include a copy of the Addendum, which is the contract containing the terms of the GAP Insurance.

Mechanical Repair Coverage (MRC)
What is it?

MRC is an optional low-cost coverage of your auto loan that helps pay for covered repairs on your car when that unexpected breakdown occurs. For a few dollars a month, you can protect your vehicle and your finances from expenses that could total hundreds or even thousands of dollars!

What is it for?

MRC protects you from the cost and inconvenience of covered breakdowns, with the plan’s 24-hour roadside assistance, towing, emergency travel expense and rental reimbursement.

MRC complements your manufacturer’s warranty because the roadside assistance and travel expense reimbursement can be used immediately, even if your vehicle breaks down during the manufacturer’s warranty period.

Features & Benefits
  • Good at authorized automobile dealers or repair facilities in the U.S. and Canada.
  • Transferable if you sell your vehicle to a private party.
  • Cancellable 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.

Ask one of our friendly loan officers about the MRC Insurance when applying for your loan. Additional information will also be provided before you are required to pay for the MRC Insurance. This additional information will include a copy of the Addendum, which is the contract containing the terms of the MRC Insurance.