Protect yourself and your family with debt protection

Debt protection is a simple, cost-effective way to cancel your loan balance or reduce your monthly payment if you become disabled, unemployed or pass away. It helps relieve the financial stress for you and your loved ones if life takes an unexpected turn.

What is covered?
Depending on the plan you select, our debt protection plan cancels your outstanding balance if you pass away or your monthly payments for a specified period if you become disabled or involuntary employed.

Protect yourself and your family with debt protection
Debt protection is a simple, cost-effective way to cancel your loan balance or reduce your monthly payment if you become disabled, unemployed or pass away. It helps relieve the financial stress for you and your loved ones if life takes an unexpected turn.

What is covered?
Depending on the plan you select, our debt protection plan cancels your outstanding balance if you pass away or your monthly payments for a specified period if you become disabled or involuntary employed.

Why debt protection might be right for you

• Helps protect your credit rating so you don’t default on a loan
• It’s convenient, the cost of coverage is included in your monthly payment
• Reduces your financial risk so your family can focus on what matters most

What is covered?

• Loss of life: Cancels the outstanding loan balance up to a specified
  dollar amount.
• Disability: Cancels up to a specific number of monthly payments.
• Involuntary unemployment: Cancels up to a specific number of
  monthly payments.
• All benefits are subject to plan specific maximums. Connect with your loan
  officer to learn more about specific coverage details.

Who is eligible?

• You must meet the following to qualify for debt protection:
• Under 70 years old
• In the last two years, you haven’t been advised of, or treated for, or taken any medication for heart attack (or other heart disease or disorder), coronary artery disease, cancer, stroke, cirrhosis, AIDs, or had a positive HIV test
• Presently working 25 hours or more per week
• Not self-employed

What else should I know?

• A few key points of debt protection.
• This is entirely optional coverage, and it won’t affect your application for credit
• You can cancel anytime. If you cancel within 30 days, any fees paid will be refunded
• Involuntary unemployment that occurs within 90 days after enrollment will not be covered

Disclosures:
This product is optional Your purchase of debt protection is optional. Whether or not you purchase this product will not affect your application for credit or the terms of any existing credit agreement you have with us.

Additional disclosures
We will give you additional information before you are required to pay for debt protection. This information will include a copy of the contract containing the terms and conditions of debt protection.

Eligibility requirements, conditions and exclusions
There are eligibility requirements, conditions and exclusions that could prevent you from receiving debt protection benefits. You should carefully read your debt protection contract for a full explanation of the terms and conditions of the debt protection program. The Contractual Liability Policy is issued by Securian Casualty Company, a New York authorized insurer. Minnesota Life Insurance Company acts as the administrator of the debt protection program. Product availability and features may vary by state. Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries. Minnesota Life Insurance Company is a subsidiary of Securian Financial Group, Inc. Coverage details, benefit maximums and exclusions are outlined in the sample addendum (PDF).

GAP can help you cover the difference between what the insurance company pays out and what you still owe on your auto loan.
In the event of a total loss or theft, GAP may waive the difference between your outstanding loan balance and the actual cash value of your vehicle.
GAP may also cover up to $1,000 of the borrower’s deductible if there is a “gap” after the primary insurance settlement is paid.
*Not available in NY or AK.

GAP example
Your one-year-old financed vehicle is totaled beyond repair

Your loan balance is: $15,000
Your vehicle’s market value: $11,000
Less your insurance deductible: $1,000
Your insurance company settlement is: $10,000

Total amount you owe without GAP: $5,000

Total amount you owe with GAP: $0

PLUS $1,000 credit towards the financing of your replacement vehicle.

GAP is subject to limitations and exclusions, including a loan-to-value (LTV) maximum. GAP is also available for watercrafts, travel trailers, RV’s and motors homes.

DPW can protect the positive equity you’ve paid into your vehicle. In the event of a total loss, DPW provides a waiver benefit equal to the difference between the vehicle value at the time of purchase, less the loan balance at the time of loss up to $10,000*, or the outstanding loan balance.

Benefits of protection:

• Protection for collision
• Life-of-loan Protection
• No mileage or year restrictions
• Protection for theft and fire
• 100% open enrollment
• Protection for vehicle depreciation

Ideal for those who:

• Finance 90% LTV or less
• Put money down
• Trade in a vehicle
• Make accelerated loan payments
• Need to protect equity

Drive with peace of mind, knowing that with Mechanical Breakdown Insurance, you have protection against the increasingly high cost of repairs for mechanical and electrical vehicle failures. MBI is an optional, supplemental protection that can be added to your auto loan, like a vehicle warranty.

In addition to vehicle repair, MBI provides additional benefits such as rental car allowance, 24/7 emergency roadside assistance and trip interruption. MBI is available for both new and used vehicles. This coverage will protect your vehicle after your warranty has expired.

Benefits of MBI

• 24/7 roadside assistance & towing
• Rental car allowance
• Free look period – 60 days
• Consequential damage coverage
• Electronics components coverage*

*Elite & Enhanced Plans ONLY