Texas Plains Federal offers several protection products that can be purchased separately or included in your loan.
- Credit Disability
- Credit Life Insurance
- Guaranteed Asset Protection (GAP) - Receive a rate discount for adding this protection
- Mechanical Breakdown Protection (VSC) - Receive a rate discount for adding this protection
Credit Disability and Credit Life Insurance
What are Credit Disability and Credit Life Insurance? It's a way to help protect your loan. There's no way to predict an injury, illness or an unexpected death, but you can take steps along the way to make sure your family is provided for if the unexpected were to happen. Credit Disability and Credit Life Insurance can help you make your loan payment and make your life a little easier for you and your loved ones.*
How does it work? The premium may be included with your payment. If you have a balance on your loan and are totally disabled due to a covered injury or illness or in the event of your unexpected death, Credit Disability and Credit Life Insurance may help cover your loan payments.*
By Taking a few simple steps while signing your loan paperwork, you're helping take responsibility for your family's financial future.
You can cancel coverage at any time if you change your mind. If coverage is canceled within the first 30 days you will receive a full refund if the premium has been paid. Coverage is immediate for eligible borrowers.
Why is it valuable? Credit Disability and Credit Life Insurance work in two different ways. You and your family may not have to make loan payments if you're totally disabled due to a covered injury or illness. It may help you pay your loan until you're no longer totally disabled, or in the event of your unexpected death, it may help pay off the loan.* Savings, salary or payoffs from other insurance may be used for other important things, giving your family financial freedom when they need it most.
|Credit Disability Insurance|
|Plan Type:||30 Day/Non-Retro|
|Maximum Monthly Benefit:||$750.00|
|Total Benefit Maximum:||$50,000|
|Maximum Issue Age:||66 Years|
|Termination Age:||66 Years|
|Credit Life Insurance|
|Total Benefit Maximum:||$50,000|
|Maximum Issue Age:||70 Years|
|Termination Age:||70 Years|
Guaranteed Asset Protection (GAP)
Don't be left paying for an asset you no longer own. Protect it with GAP. Guaranteed Asset Protection program, better known as GAP, helps cover the remaining balance on your loan of you experience a total loss before it is paid off.
Most insurance policies only cover the actual cash value of your asset. As a result, there can be a substantial "GAP" between your loan and the amount your insurance company pays to replace your vehicle.
GAP settles the difference between your primary insurance settlement and your remaining loan balance at the time of loss. GAP may also cover your primary insurance deductible.*
|HOW GAP WORKS|
|Loan Blance at Time of Loss||$23,000|
|Value of Vehicle at Time of Loss||$19,000|
|Less Insurance Deductible||-500|
|Primary Insurance Settlement||$18,000|
|Your potential out of Pocket Expenses WITH GAP||$0|
*Subject to the terms, contitions, limitations and exclusions set forth in the GAP Waiver Agreement
**This is an example for illustrative purposes only. Your actual GAP benefit will vary based on your specific circumstances.
Mechanical Breakdown Protection (VSC)
PROTECTION FROM THE UNEXPECTED
Your vehicle is not only an investment; it's your transportation lifeline. With ASG's protection plan, you have peace of mind knowing your investment is protected.
WHAT ARE YOUR OPTIONS?
With a full complement of affordable coverage options, ASG's Protection is the ideal solution to protect your investment and reduce out-of-pocket expenses should a mechanical breakdown occur.
The vast majority of costly mechanical and electronic failures occur AFTER the factory warranty has expired. Avoid expensive repairs by protecting your vehicle with aMechancial Breakdown Protection contract.
GET THE MOST OF OF YOUR COVERAGE
With four levels of coverage, ASG's protection offers affordable options to ensure your vehicle is protected against costly mechanical and electronic repairs.
- Platinum Protection*
- Gold Protection*
- Silver Protection*
- Copper Protection*
All of the plans provide reimbursement for Roadside Assistance. The emergency services include:
- Lock-out Assistance
- Fuel Delivery Services
- Flat Tire Assistance
- Battery Service
Rental Vehicle Assitance
In the event of covered mechanical breakdown, you will be eliglible for alternate transportation expenses according to the schedule in your contract.
Tire Road Hazard
ASG's protection plans provide coverage for the repair, or if necessary, the replacement of your vehicle's tires if damaged due to a road hazard.
In case of a mechanical breakdown that occurs more than 100 miles away from your home and resultes in a repair facility keeping your vehicle overnight, you are eligible to be reimbursed for meals and lodging for up to three days.
ASG MAKES IT EASY FOR YOU!
- Repairs can be performed at any licensed repair facility in the US or Canada
- All claims are handled directly by the insurer with direct payments to the repair facility
- You may transfer your coverage if you sell your veicle before your contract expires
*See brochure for details
**This information highlights the benefits of ASG's protection plans. Please refer to the acual service contract for coverages, exclusions, terms and conditions.