Debt Protection
Protect your finances.
To help protect your finances in case of death, disability, or accident we offer various debt protection products.
Debt Protection
If your life takes an unexpected turn, your family’s finances can be strained. But with Debt Protection, your loan payments or balance may be canceled, up to the contract maximums, in case of involuntary unemployment, disability, or death. It’s just one more way you can look out for the people you love.
Take an important step toward financial security. Ask Aspire Credit Union about Debt Protection today.
Disclosure
Debt Protection 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 contract for a full explanation of the terms. You will receive the contract before you are required to pay for any Debt Protection. 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.
Accidental Death & Dismemberment Protection (AD&D)
The AD&D protection is provided by Aspire Credit Union for our members through our partner TruStage. This debt protection allows individuals to prepare for the unexpected with no-cost protection to our membership. Should the member need this debt protection, all they need to do is claim it. Please, call with questions or to inquire about our family plan options.
This member-exclusive protection is available for those individuals 18 and older.
Asset Protection & Repair Warranty
Protect your possessions.
Guaranteed Asset Protection (GAP)
Let’s face it sometimes accidents happen, and you don’t want to be left owing money on your vehicle loan after your protection has been paid out. That is where GAP comes into play.
GAP protection, is supplemental debt protection that can be added to your motorized vehicle purchase with the loan. Unlike standard protection, GAP helps by filling in the difference between what you have been paid out by the debt protection company after an accident, and what you still owe on your loan. GAP can be applied to vehicles and recreational loans for items such as boats or motorcycles. The Consumer Loan Specialists here at Aspire can help you get started.
Mechanical Repair Protection - Warranty
The Mechanical Repair Protection warranty covered the parts and labor on vehicle repairs. The cost of protection is determined by the vehicle type, protection, term, and fee. Members with vehicles 15 years old or newer with an odometer at 150K miles or less may be eligible. No modifications from the manufacturer’s specifications can be made to qualify. The warranty is offered in three basic plans, and it is based on vehicle mileage. A loan officer can help determine which plan would work for you.
The plan is transferable if you sell the vehicle.
Vehicles that are not eligible are commercial vehicles, government vehicles, motor homes, and modified vehicles.
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