Insurance

GAP (Guaranteed Asset Protection)

GAP (Guaranteed Asset Protection) protects you by covering the “gap” between what you owe on your auto loan and the amount your insurance will cover, in the event your vehicle is totaled in an accident or stolen. Look into adding coverage today!

Debt Protection Program

CONSUMER OPTIONS
SUMMARY
Option 1
Life Plus, Disability, Involuntary Unemployment
Option 2
Life Plus, Disability
Option 3
Disability
Option 4
Life Plus
Who is CoveredIndividual Borrower,
Joint Borrowers
Individual Borrower, Joint BorrowersIndividual Borrower, Joint BorrowersIndividual Borrower, Joint Borrowers
Cost per MonthSingle: $3.13/$1,000
Joint: $5.22/$1,000
Single: $2.27/$1,000
Joint: $3.90/$1,000
Single: $1.69/$1,000
Joint: $2.61/$1,000
Single: $0.75/$1,000
Joint: $1.37/$1,000
Life Plus BenefitsBalance Cancellation
Up to $100,000
Graded - Simplified
Pre-Existing Condition
No Age Maximum
Balance Cancellation
Up to $100,000
Graded - Simplified
Pre-Existing Condition
No Age Maximum
Not Included with this OptionBalance Cancellation
Up to $100,000
Graded - Simplified
Pre-Existing Condition
No Age Maximum
Disability BenefitsPayment Cancellation
Up to 24 Months or $24,000
Pre-Existing Condition
Begins on 1st Day of Disability
No Age Maximum
Payment Cancellation
Up to 24 Months or $24,000
Pre-Existing Condition
Begins on 1st Day of Disability
No Age Maximum
Payment Cancellation
Up to 24 Months or $24,000
Pre-Existing Condition
Begins on 1st Day of Disability
No Age Maximum
Not Included with this Option
Involuntary Unemployment BenefitsPayment Cancellation
Up to 6 Months or $3,000
Begins on 1st Day of Unemployment
No Age Maximum
Not Included with this OptionNot Included with this OptionNot Included with this Option

HOME EQUITY
OPTIONS
SUMMARY
Option 1
Life Plus, Disability, Involuntary Unemployment
Option 2
Life Plus, Disability
Option 3
Disability
Option 4
Life Plus
Who is CoveredIndividual Borrower,
Joint Borrowers
Individual Borrower,
Joint Borrowers
Individual Borrower,
Joint Borrowers
Individual Borrower,
Joint Borrowers
Cost per MonthSingle: $3.27/$1,000
Joint: $5.48/$1,000
Single: $2.60/$1,000
Joint: $4.49/$1,000
Single: $1.48/$1,000
Joint: $2.35/$1,000
Single: $1.12/$1,000
Joint: $2.14/$1,000
Life Plus BenefitsBalance Cancellation
Up to $100,000
Graded - Simplified
Pre-Existing Condition
No Age Maximum
Balance Cancellation
Up to $100,000
Graded - Simplified
Pre-Existing Condition
No Age Maximum
Not Included with this OptionBalance Cancellation
Up to $100,000
Graded - Simplified
Pre-Existing Condition
No Age Maximum
Disability BenefitsPayment Cancellation
Up to 24 Months or
$24,000
Pre-Existing Condition
Begins on 1st Day of Disability
No Age Maximum
Payment Cancellation
Up to 24 Months or $24,000
Pre-Existing Condition
Begins on 1st Day of Disability
No Age Maximum
Payment Cancellation
Up to 24 Months or $24,000
Pre-Existing Condition
Begins on 1st Day of Disability
No Age Maximum
Not Included with this Option
Involuntary Unemployment BenefitsPayment Cancellation
Up to 6 Months or $3,000
Begins on 1st Day of Unemployment
No Age Maximum
Not Included with this OptionNot Included with this OptionNot Included with this Option

CREDIT CARD
OPTIONS
SUMMARY
Option 1
Life Plus, Disability, Involuntary Unemployment
Who is CoveredSingle and/or Joint Borrower
Cost per Month$3.59/$1,000
Life Plus BenefitsBalance Cancellation
Up to $100,000
Graded - Simplified
Pre-Existing Condition
No Age Maximum
Disability BenefitsPayment Cancellation
Up to 24 Months or $24,000
Pre-Existing Condition
Begins on 1st Day of Disability
No Age Maximum
Involuntary Unemployment BenefitsPayment Cancellation
Up to 6 Months or $3,000
Begins on 1st Day of Unemployment
No Age Maximum

Life Plus adds protection for life events such as accidental dismemberment, terminal illness, hospitalization, family medical leave, and the loss of life of a non-protected dependent.

Certain eligibility requirements and exclusions may apply to these summaries. Guaranteed Asset Protection (GAP) and the Debt Protection Program are options that do not affect your application for credit or the terms of any credit agreement with ACT 1st FCU. Neither option is a contract for insurance. The products offered:

  • are not federally insured
  • are not obligations of ACT 1st Federal Credit Union
  • are not guaranteed by ACT 1st Federal Credit Union or any affiliated entity
  • involve investment risks, including the possible loss of principal; and
  • could be offered by an ACT 1st Federal Credit Union employee who serves both functions of accepting members’ deposits and the selling of non-deposit investment products.