Page Title

Loan Protection

When you take out a loan it means you’re making one of your dreams come true. It might be a new car, a family vacation, or a home improvement project. To protect your dream if the unexpected happens, Accentra provides several options.

Guaranteed Asset Protection Insurance (GAP)

If your vehicle is stolen, accidentally damaged beyond repair, or otherwise declared a total loss, you will be required to pay the difference, or cover the "gap", between your insurance settlement and the remaining balance on your loan. GAP Insurance is designed to cover that expense.

Mechanical Breakdown Protection

Your vehicle is a major investment. Avoid unexpected, costly repairs and protect your investment by purchasing Mechanical Breakdown Protection (MBP).

MEMBER'S CHOICE™ Borrower Security

MEMBER'S CHOICE™ Borrower Security is a voluntary protection program that can reduce or cancel your outstanding loan balance, up to the agreement maximum, should you die before paying off your loan. It costs just pennies a day and only buys enough protection to cover your loan balance. Other benefits include:

Your credit rating and collateral are protected
Basic eligibility requirements
Fast and easy enrollment
Immediate coverage for eligible borrowers
Convenient -- fee is included in your loan payment

In addition, if you become disabled due to covered illness or injury, or become involuntarily unemployed, MEMBER'S CHOICE™ Borrower Security can cancel your monthly loan payment, up to the agreement maximum. With payment cancellation, both the principle and interest portion of your loan payment are cancelled (up to the agreement maximum), and your loan balance declines.

Consumer Loan Protection

Depending upon the package selected, MEMBER'S CHOICE™ Borrower Security can:

Protect up to two borrowers per loan for the same fee.
Cancel your loan balance up to $100,000 in the event of death, or cancel your monthly loan payment for up to 12 months or $12,000.
Cancel your monthly loan payments for up to 12 months or $12,000 if disabled due to a covered illness or injury.
Cancel your monthly loan payments for up to 6 months or $3,000 if involuntarily unemployed.

Home Equity Protection

Depending upon the package selected, MEMBER'S CHOICE™ Borrower Security can:

Protect up to two borrowers per loan for the same fee.
Cancel your loan balance up to $100,000 in the event of death, or cancel your monthly loan payment for up to 12 months or $12,000.
Cancel your monthly loan payments for up to 12 months or $12,000 if disabled due to a covered illness or injury.
Cancel your monthly loan payments for up to 6 months or $3,000 if involuntarily unemployed.
Interested in adding Loan Protection to an existing loan?

No problem, you can add any of our loan protection options to most existing loans. Call us today at 507-433-1829 or 800-533-0448 for more information.