Life happens. Protect your finances with a payment protection plan.
Stay protected when life throws you a curve ball. We offer multiple protection options to help support your signature loan, credit card and auto loan when you need it the most.
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Guaranteed Asset Protection (GAP) |
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Major Mechanical Protection |
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May cover the difference in what your insurance pays out and what you owe on your auto loan during the first two years of your loan in the case of a total loss. |
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May provide up to $3,000 more towards the principal balance of a new vehicle loan during the first three years of your loan in case of a total loss. |
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May provide up to an additional $1,000 towards a new Arrowhead auto loan financed within 90 days after your total loss. |
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You have the option to purchase coverage as a one-time fee and roll into your auto loan at the time of funding, and up to 12 months after. |
Even minor repairs may be pricey, and if the necessary work is considered normal wear and tear, it's beyond what is covered by your manufacturer's warranty. Add Major Mechanical Protection to your new or pre-owned auto loan which may help cover the cost of unexpected expenses.
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| Covers Most Mechanical Parts |
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| 24 Hour Roadside Assistance |
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| Unlimited Claims |
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| Rental Vehicle Assistance |
MMP covers most mechanical parts including engine, transmission, brakes, electrical and more.
You can add MMP at any point during the life of your auto loan!
| While it's not fun to think about, it's a good idea to have a plan in place in case the unexpected happens. Your loan balances or payments may be suspended or canceled without harming your credit score in the event of involuntary unemployment, disability, or death.
Debt Protection can be added to your Personal Loan, Credit Card, or Auto Loan at anytime. It's easy to add and offers great peace of mind. |
| Debt Protection Options | LifePlus | LifePlus Disability | LifePlus Disability IU |
| Hospitalization |  |
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| Accidental Dismemberment | |
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| Terminal Illnesses | |
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| Death | |
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| Disability | – | |
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| Involuntary Unemployment | – | – | |
1 Loan balances may not be paid in full; please refer to Contract exclusions. Coverage only applies to a total loss event as defined in the policy, and must occur within the first 2 years after the loan inception. Maximum payout of $4,000; actual payout may be less. Powerbuy amount is determined based on your specific information. Powerbuy is in effect for the first 3 years of the loan and may pay up to $3,000 toward the purchase of a new car if you have a covered total loss event. Member is not obligated or required to purchase insurance from the credit union or any subsidiary, affiliate, or particular unaffiliated party as a condition to obtaining a loan, and a decision as to insurance agents will not affect the credit terms in any way. The credit union may not condition an extension of credit on an agreement not to obtain, or a prohibition on the applicant from obtaining an insurance product or annuity from an unaffiliated entity. Insurance products sold through or in the credit union are not insured by the National Credit Union Administration and are not insured, guaranteed, or underwritten by the credit union or the National Credit Union Administration or any other federal or state governmental agency.
2 Major Mechanical Protection (MMP) is an extended service contract that may provide additional protection beyond the manufacturer's warranty and available through American Mercury Insurance Group. Coverage is optional and not required to obtain credit. Choosing or declining this coverage will not affect your loan approval. You may elect to add the premiums for the coverage to the loan and this will increase your monthly payment. Restrictions, exclusions, and deductibles apply; see the policy contract for complete details. Insurance products sold through or in the credit union are not insured by the National Credit Union Administration and are not issued, guaranteed, or underwritten by the credit union or the National Credit Union Administration or any other federal government agency. Please contact Arrowhead Credit Union for more information.
3 Your purchase of Debt Protection with Life Plus 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 Member Agreement for a full explanation of the terms of Debt Protection with Life Plus. You may cancel the protection at any time. If you cancel protection within 30 days, you will receive a full refund of any fee paid.
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