Life Plus
May payoff a loan balance up to $100,000
May payoff monthly loan payments up to 3 months or $3,000
What is Life Plus Benefits?
May pay off a monthly loan payment for up to 6 months, or $6,000, whichever is first and less
What is Involuntary Unemployment?
BETTER LUCK NEXT TIME
-300
Deductible options: $0, $100, $250 or $500
What are the Deducible Options?
GAP Plus one time cost: $649
How much is GAP Plus w/ Deductable Assistance?
What is Terminal Illness?
May pay off a monthly loan payment up to 12 months, or $12,000, whichever is first and less
What is Disability?
48yr old husband & father of 4, is requesting an auto loan of $25,000 to replace their family car for his wife. he has expressed concerns about the monthly payment would be too much for his wife if he were to get injured as a construction worker.
Which PSP option would you best recommend?
Option 2: Disability and Involuntary Unemployment
The Plan covers 11 components including engine, transmission, front and rear wheel drive, steering front suspension, breaks electrical and air conditioning, basic hybrid/electric vehicle components, seals and gaskets.
What is the Sliver Plan?
Covers up to $1,000 of the Members primary insurance carrier deductible. May claim up to 2 reimbursements per year.
What is the Deductible Assistance?
Once the protected Member is 75 years old, the maximum payout is 25% of the total loan balance, or $25,000, whichever is less.
What is Life Plus?
_________ Members qualify for Disability and Life Plus protection on their loans and credit cards.
What do Self-employed Members qualify for?
LUCKY
+300
Lift kit, leveling kit & lowering kit pays for covered breakdowns when your vehicle is equipped with a lift kit not to exceed 6 inches, leveling kit not to exceed 2.5 inches or lowering kit not to exceed 2 inches. (Lift or leveling kits components themselves are not covered).
Does MRC cover modified vehicles?
Internal Refinance with GAP: If the loan term and amount is not extending its current status, GAP will carry over.
Will GAP carry over for an internal refinance?
Payment Cancellation. A protected Member is admitted to a hospital for at least, 48 consecutive hours
What is Hospitalization and it's benefit?
Life Plus & Involuntary Unemployment has a 3 month Vesting Period
Loss of Life or Disability has 6 month Vesting Period
When will PSP protection be active?
How long are the vesting/waiting periods?
Rate per $1,000 of the monthly outstand balance
What is PSP program fee?
Transferable to increase resale value. Only if sold privately. Subject to $50 transfer fee.
Can MRC be transferred?
$1000 benefit to your next SchoolsFirst auto loan if funded within 120 days of the date your auto insurance settlement issues check for total loss.
What is GAP Plus?
Payment Cancellation. A loss of a dependent not listed as a covered borrower on the PSP Agreement and was listed as a dependent on the Member's tax return for the past 2 years
What is Loss of Life of a non-protected dependent and its benefit?
Payroll Savings Loan, Classroom Supplies Loan, Uniform Loan, Wardrobe Loan and Single-Pay Certificate Loan
What loans PSP do NOT protect?
Share a Member story how you recommended PSP!
+1000
Substitute transportation reimbursement, 24-hour emergency roadside assistance, Travel expense reimbursement, Key Replacement, Paintless dent repair...etc
What are some added benefits with MRC?
GAP may be financed into the loan within 90 days of funding OR purchased in cash at any time after the 90 day period.
When can I purchase GAP?