LOW COST INSURANCE

GAP Insurance

MBI Insurance

MEMBERS® Auto & Homeowners Insurance Program

Life Insurance

Loan Protection Insurance

 

When you get a loan with the credit union, you often need certain types of insurance to protect yourself and your family in the event of the "unexpected". If you are "failing to plan" you are "planning to fail".

 

Here are some examples:

LOAN TYPE INSURANCE NEEDED EXAMPLE
Auto Loan Mechanical Breakdown Insurance (MBI) If your car breaks down and needs a repair and you cannot afford to repair it, you will not have a car to drive but you will still be responsible for making monthly payments. It is worth it to plan ahead
Auto Loan GAP Insurance If your car is totaled in an accident or stolen, your insurance will pay the value of your car, which is often thousands less than the balance owed by you on the loan. GAP insurance can pay the difference so you won’t owe the credit union if this happens to you.
Home Loan Home Owners Insurance If something happens to your home you are responsible for fixing it or the value of your home could plummet. Get a discounted Home Owners insurance policy to protect yourself and your family.
Home Loan
Auto Loan
Personal Loan
Credit Card
Life Insurance or Loan Protection Insurance If you or your spouse is the primary breadwinner who pays the mortgage and you die unexpectedly, you may not have money to pay the mortgage. An insurance policy can protect your family to make sure they have enough money in case you pass away before the mortgage is paid off.

Back to top

GAP Insurance

Protect your vehicle not just its value with Guaranteed Asset Protection (GAP). If your vehicle is ever stolen or totaled in an accident, GAP will pay you the difference between the value of your vehicle and its unpaid loan or lease balance. In addition, GAP also covers the deductible of your insurance policy up to $1,000. To obtain GAP Advantage for your vehicle, call us at (818) 973-4900.

Back to top

Mechanical Breakdown Insurance (MBI)

Protect your vehicle against mechanical failures! Through TFCU’s partnership with American Mercury Insurance Group, you can obtain Mechanical Breakdown Insurance (MBI) coverage for repairs on most parts and labors. Insurance coverage can be obtained on new vehicles or used vehicles with less than 75,000 miles. Your MBI policy is also transferable which increases the resale value of your vehicle. To obtain MBI coverage for your vehicle, call us at (818) 973-4900.

Back to top

MEMBERS® Auto & Homeowners Insurance Program

You trust Technicolor Federal Credit Union to provide you and your family with quality products and services to meet your financial needs. We’ve joined with a dedicated team of insurance professionals to bring you the MEMBERS® Auto & Homeowners Insurance Program.

 

The MEMBERS Auto & Homeowners Insurance Program is the property and casualty coverage solution preferred by credit unions and their members with convenient e-service, with easy access to claims services 24 hours a day. Obtain a free, no-obligation quote by calling 1-888-380-9287 or click here to view their website and start saving!

 

The MEMBERS Auto & Homeowners Insurance Program is made available by CUNA Mutual Insurance Agency, Inc. and underwritten by leading insurance companies. To the extent permitted by law, applicants are individually underwritten; not all applicants may qualify.

 

Discounts are not available in all states and discounts vary by state. A consumer report from a consumer reporting agency and/or motor vehicle report will be obtained on all drivers listed on your policy where state regulations allow. The insurance offered is not a deposit and is not federally insured or guaranteed by your credit union.

Back to top

Life Insurance

You can protect both your family and property through our partnership with Liberty Mutual Insurance Company. They offer term life insurance, variable universal life, and term-life insurance for loans as well as disability insurance for loans. Contact Liberty Mutual Insurance Company directly at (800) 837-5254 or to visit them online, click here.

Back to top

Loan Protection Insurance

With our partnership through CUNA Mutual, members with any TFCU loan obligation can really prepare for the unexpected. Loan Protection Insurance is tied directly to your loan and pays off the loan (or reduces it) if the borrower dies and or takes over the loan if the borrower becomes disabled. To learn more about Loan Protection Insurance call us at (818) 973-4900.

 

Frequently Asked Questions about Loan Protection Insurance
When credit union members take on a new financial obligation like a loan, they often ask about what would happen in the event of a death or disability. That's where loan protection insurance comes in. Credit life and disability insurance can be a big help financially when difficult circumstances arise. Here are a few basic questions about this important financial protection available to credit union members.

 

What is loan protection?
Loan protection insurance is credit insurance directly tied to your loan. Credit life insurance pays off the loan (or reduces it) if the borrower dies. Credit disability insurance takes over the loan payments if the borrower becomes disabled.

 

How is loan protection different from other kinds of insurance?
Loan protection insurance takes care of a specific need. It's designed to make sure a debt doesn't become a burden if the borrower dies or becomes disabled.

 

How do you get coverage on your loan?
At some time during the process of taking a loan, you'll be given a chance to enroll in the loan protection program sponsored by your credit union. You'll also be informed of the cost. If you want loan protection, typically you won't have to go through a long approval process. Your insurance will become effective as soon as your loan is finalized and the first premium is paid.

 

Why do people buy loan protection insurance?
It offers a convenient, affordable way to make sure their family or loved ones wouldn't be saddled with the burden of debt in the event of death or disability. The cost is usually quite affordable.

 

How is the cost determined?
The cost of credit insurance is determined by your loan balance, not by your age, as it is with most other types of insurance. Your premiums only reflect the cost to insure your loan. For convenience, your premiums are included in your loan payment.

 

Who provides loan protection insurance?
Loan protection insurance is underwritten by CUNA Mutual, or, in some cases, other carriers. Ask your credit union for complete description of carriers and plans.

Back to top

© 2005-2015 Technicolor Federal Credit Union All Rights Reserved. Tel: 818.973.4900


This Credit Union is Federally Insured by the National Credit Union Administration.