Protection Products 2025

GAP

100

What does GAP stand for?

Guaranteed Asset Protection

200

What is GAP Plus?

List 2 benefits

• $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.
• Covers up to $1,000 of the Members primary insurance carrier deductible.
• Deductible Assistance provides financial relief when your vehicle is damaged but not deemed a total loss. If repairs cost more than your deductible, the deductible amount is applied to your vehicle loan at the credit union, reducing what you owe.

300

GAP covers which eligible collateral:

Auto

400

How much does GAP cost?

$649

500

A GAP claim must be filed within ___ days from the date of the primary carrier's settlement.

60 

PSP

100

What 3 things does Payment Sheild Plus cover?

Involuntary Unemployment- 

Disability

Loss of Life

200

How many payments are protected for disability?

What is the max amount we would cover?

12 months 

12,000

300

What is the max outstanding balance Loss of Life will cover? 

$75,000

400

Involuntary Unemployment benefits begin on ___ day. 

14th

500

Unemployment Benefits- Member must not be working any job or combination of jobs for ___ hours or more per week. 

25

MRC

100

What packages do we offer?

Platinum, Gold and Silver

200

What are the deductible options?

Deductible options: $0, $100, $250 or $500

300

If the car is sold what is the transfer fee?

$50

400

What are addition benefits MRC offers?

Please list 5.

• Rental Reimbursement up to $35/day for 5 days ( up to an additional 5 days with verified parts delay) from day one.
• 24-hour emergency roadside assistance up to $100 per occurrence. Includes towing, battery jumpstart, fluid delivery, flat tire assistance & lock-out service.
• Travel expense reimbursement up to $200 per day for 1-5 days for food, lodging and rental.
• Good at any authorized repair facility in the U.S. or Canada.
• No out-of-pocket expenses for approved repairs, except any deductible. Plan pays the repair facility.
• Mobility Equipment provides coverage for mobility equipment when installed by the manufacturer or a licensed installer.
• Key Replacement up to $800 per occurrence for the repair or if nonrepairable, the replacement of lost, stolen or damaged keys (including fob and/or remote) including any programming.
•  Paintless dent repair provides for the repair of dings and dents, no larger than 4 inches in length/diameter, that are within an accessible area on a body panel of your vehicle and that are repairable through existing paintless dent repair techniques. 
• Commercial use pays for covered breakdowns when your vehicle is used for permitted commercial purposes.
• Rideshare pays for covered breakdowns when your vehicle is used for permitted commercial purposes ride-sharing purposes such as Uber or Lyft.
• 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).

500

What is Insurance Services ext?

4389

PSP

100

When can PSP be added to a loan/credit card?

Anytime

200

How many payments are protected for Involuntary Unemployment?

What is the max amount we would cover?

6 Months

$6000.00

300

True or False

Suicide is a covered after the first 12 months.

True

400

What would cause PSP to be terminated? 

• Coverage terminates on the date the protected loan payment is 90 days delinquent and is not automatically restored once the loan is paid current.

500

What causes termination of the Life Plus coverage?

Coverage terminates on the date the protected loan payment is 90 days delinquent and is not automatically restored once the loan is paid current.

GAP

100

When can GAP be purchased?

Anytime.

200

Gap must be canceled within __ days in order to receive a full refund. 

90 

300

GAP's payout can be up to ______.

$50,000.00

400

What type of vehicle conditions are excluded?

• Portion of loan exceeds 150% of MSRP (new) or 150% of KBB retail value (used)
• Salvaged or reconstructed vehicles
• Maximum loan term of 84 months
• Vehicles used for commercial purposes, titled under a business, or used to carry passengers for hire (i.e. taxi cab, limo, Lyft/Uber)

500

**When would you recommend GAP Plus?

Anytime!