When the unexpected happens, expect help from us.
Get help covering payments or balances in the event of disability, death, vehicle loss or unexpected repairs.
Payment support
Get peace of mind for your monthly loan payments when life takes an unexpected turn.
Loved ones support
Should something happen to you, loan insurance helps your family cover your loans.
Optional support
Understand your options and decide if added protection is right for you.
Explore coverage
GAP coverage for your vehicle
If your vehicle is totaled or stolen, our Guaranteed Asset Protection (GAP) Plus program may reduce or eliminate the gap between what your vehicle insurance will cover and what you owe on your loan.1
Our GAP Plus program also includes Deductible Assistance which may help when your vehicle is damaged but not deemed a total loss. If repairs cost more than your deductible, the deductible amount is applied to your vehicle loan, reducing what you owe.
Get help paying for auto repairs
Mechanical Repair Coverage helps cover the cost of unexpected vehicle repairs, so you’re not paying out of pocket for everything under the hood.
Includes flexible deductible options and added benefits like roadside assistance to help keep your wheels turning when something goes wrong.2
Protect your loan with credit life
Credit life insurance can offer peace of mind for your loved ones during an already difficult time, by helping pay off your loan, up to policy maximums, if a protected death occurs.3,4
Protect your payments during disability
Credit disability insurance can offer financial breathing room while you recover, by helping cover your loan payments, up to policy maximums, if a protected injury or unexpected illness affects your ability to work.5
All your loan protection questions, answered
Learn more about what Loan Protection is, what life events it may cover, how it can help with your loans, and where to go for more information.
Our suite of Loan Protection services offers optional coverage that can help cover your loan payments or balances if an unexpected life event affects your ability to pay.
Loan Protection may apply in covered situations such as disability, death, unexpected car repairs, or vehicle loss. However, exact coverage depends on the protection selected and the terms that apply.
That depends on the covered event and the protection you’ve selected, but Loan Protection may help cover your monthly loan payments while you’re unable to pay, or cancel part or all of your loan balance.
Review our product details carefully to understand how coverage works. If you still have questions, contact us or visit your local LMCU branch.
Yes. Loan Protection is an optional, elective service based on your financial situation, loan type, and comfort level with unexpected risk.
Loan Protection is tied directly to your loan. It is separate from health, life, auto, homeowners, or any other insurance policies you may already have.
If you:
- Want added protection against unexpected life events
- Rely on steady income to make loan payments
- Want extra peace of mind in case of the unexpected
Loan Protection could be right for you.
More details on our Loan Protection services
See what each option is designed to help with, so you can better understand what kind of protection may fit your needs.
GAP Plus may help if you get into an auto accident and your vehicle is declared a total loss, but the amount your auto insurance pays is less than what you still owe on your auto loan.
The program includes Deductible Assistance which is designed to help reduce what you owe on your auto loan when covered repairs exceed your deductible, but the vehicle is not declared a total loss. Terms apply.
Mechanical Repair Coverage may help with the cost of covered vehicle repairs after your warranty ends.
This can also include benefits like:
- Deductible choices
- Rental reimbursement
- Roadside assistance
- Travel reimbursement
- Access to authorized repair facilities in the U.S. or Canada.
Credit life insurance may help pay off a loan, up to policy maximums, if a protected death occurs. It is designed to help reduce the burden of remaining loan balances for surviving loved ones.
Credit disability insurance may help cover loan payments, up to policy maximums, if a protected injury or unexpected illness affects your ability to work. It is designed to provide temporary payment support and financial breathing room while you focus on recovery.
Claim and support steps vary by protection type. Credit Life and Credit Disability claims can be started with TruStage by calling (800) 621-6323. For GAP claims, contact us at totalloss@lmcu.org. Mechanical Repair Coverage service or claim support may also require a separate contact path.
The right option depends on the type of loan or vehicle you want to protect and which risks matter most to you. Some products are designed around loan payments or balances, while others are designed around vehicle value or repair costs.
Get even more from your membership
Discover more products and tools to help you protect your finances and achieve your goals.
Related resources
Disclosures
How to Beat Car Depreciation -KBB, October 2024. Your purchase of MEMBER’S CHOICE™ Guaranteed Asset Protection (GAP), which includes deductible assistance, is optional and will not affect your application for credit or the terms of any credit agreement you have with us. Certain eligibility requirements, conditions, and exclusions may apply. You will receive the contract before you are required to pay for GAP. You should carefully read the contract for a full explanation of the terms. If you choose GAP, adding the GAP fee to your loan amount will increase the cost of GAP. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid.
Mechanical Repair Coverage is provided and administered by Consumer Program Administrators, Inc. in all states except CA, where coverage is offered as insurance by Virginia Surety Company, Inc., in NH, where coverage is provided and administered by Consumer Program Administrators, Inc. dba Consumer Warranty Program Administrators, in TX, where coverage is provided and administered by Consumer Program Administrators, Inc. dba The Administrators of Consumer Programs (TX License #175), in FL and OK, where coverage is provided and administered by Automotive Warranty Services of Florida, Inc. (Florida License #60023 and Oklahoma License #44198051), and in WA, where coverage is provided by National Product Care Company and administered by Consumer Program Administrators, Inc., all located at 175 West Jackson Blvd., Chicago, Illinois 60604, 1-800-752-6265. This coverage is made available to you by TruStage Financial Group. Coverage varies by state. Replacement parts may be new, used, non-OEM or remanufactured. Be sure to read the Vehicle Service Contract or the Insurance Policy, which will explain the exact terms, conditions, and exclusions of this voluntary product.
Credit life insurance available to those 71 and under. Not insured by NCUA.
Your purchase of MEMBER’S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company (Home Office: Waverly, IA), is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative or refer to the Group Policy for a full explanation of the terms. Base Policy Nos. CI-MP-POL, CI-SP-POL, B3a-830-0996, B3a-800-0695, B3a-800-0288, CI-MP-CE-POL; CI-MP-OE-CC-POL; CI-MP-OE-POL; B3a-800-0992. CDCL, GAP, MRC-3473434 1-0321-0423 © TruStage. All Rights Reserved.
Credit disability insurance available to those 66 and under.
