LOANS
Credit life and credit disability
This insurance provides your family with the financial security they need. Credit life insurance protects your family, provides coverage at home and at work and provides peace of mind. In the event of your death, credit life insurance pays the insured balance of your loan, up to the policy limit. Credit disability insurance works just like credit life insurance, except that it protects you and your family if you become disabled by a covered sickness or accident that persists beyond the policy waiting period. Both services are available with all loan products.
Guaranteed asset protection (GAP) and Mechanical repair coverage (MRC)
You've heard about additional insurance when you buy a vehicle from a car dealer in case of an emergency situation that keeps you from making your payments. Greater Iowa can offer the same types of coverage but at a better price. Contact a member services representative for more information.
Collateral protection
If you fail to obtain or maintain your own insurance, Greater Iowa may purchase insurance to protect our interest in your collateral; this insurance is referred to as Collateral Protection Insurance or CPI. The cost of this insurance will usually be considerably more than the cost of insurance you may be able to obtain on your own.
Greater Iowa Credit Union is an equal opportunity lender and a member of the NCUA. All deposits at Greater Iowa Credit Union are
insured up to $250,000 through the National Credit Union Association. An additional $250,000 insurance is provided by Excess Share Insurance Corp.
