Payment Protection

Plan for the unexpected and protect yourself and those you love with a GCFCU Payment Protection Plan. Accidents can happen at any time, and our Payment Protection will give you peace of mind. Payment Protection (also called Credit Insurance) is an affordable supplement to your regular life insurance policy or disability coverage.

What is Payment Protection?
The three types of Payment Protection Plans are:

• Single Credit Disability: Makes your payments for you if you become totally disabled for a period
  of more than 30 days.
• Single Credit Life: Pays off the balance of your installment loan if you die.
• Joint Credit Life: Pays off the balance of your installment loan if either you or you co-borrower dies.

Why you should add Payment Protection to your next loan:

• It helps protect your credit rating and collateral.
• It reduces financial burden during your recovery period.
• There are no complicated enrollment forms or physical examinations required.
• No separate payments. The premium is simply added to your monthly loan payment.
• Peace of mind. Your covered loans are paid if you become disabled.

To find out more about our Payment Protection, including pricing and limitations, call the Credit Union office for further details at (716) 665-3799.