The Value of Protecting Your Loan
You can never predict what will happen in the future. Life is full of surprises and sometimes those surprises can create added stress in our lives. That’s the value that insurance provides! Schofield FCU has joined with leading insurance providers to offer our members added loan protection products to give you peace of mind and at affordable rates.
Credit Life Insurance (CLI)
CLI pays off your loan in the event of your death. This insurance will pay the loan off in full and not leave a burden on your surviving family members. CLI is a very inexpensive coverage that's included in your monthly payment.
Credit Disability Insurance (CDI)
CDI helps make loan payments after the policy waiting period, if you become disabled through a covered illness or accident. The premium is included in your monthly loan payment. CDI pays regardless of other insurance you may have, and is important when other medical bills are incurred.
Guaranteed Auto Protection (GAP) Insurance
Most people believe that if their vehicle is totaled or stolen, their primary insurance will pay off their loan balance. Unfortunately, your primary insurance carrier will usually pay only the actual cash value (current market value) of your vehicle less your deductible. This amount could be substantially lower than your loan balance.
The final result is a financial GAP where you must pay the difference between your loan balance and your insurance settlement, which could mean thousands of dollars out of your pocket. GAP coverage helps eliminate the out-of-pocket expense you would incur to pay off your loan should your vehicle be stolen or totaled.
Route 66 Extended Warranty
Route 66 Warranty has a complete line of coverage designed to keep your vehicle on the road. Even the most reliable vehicle can develop a mechanical problem, that's why so many people depend on Route 66 Warranty. No matter where you travel in the United States, we protect you against major mechanical expenses and there is NO DEDUCTIBLE on covered parts and labor. All of the plans come with 24 hour/7 days a week Emergency Roadside Service including: towing, flat tire assistance, battery jump starting, lock-out service, rental car allowance, and more!
Call (808) 624-9884 for more information.