Insurance and Protection Services

PEFCU provides a variety of loan enhancements to help safeguard you and your family. For more information regarding these products, click here for Live Member Chat during business hours (9 a.m.-7 p.m. Eastern Time, Monday-Friday) or call us at 765.497.3328 or 800.627.3328.

Credit Disability Insurance

Credit Disability Insurance offers payment protection when sickness or an accident totally and continuously disables the member. The member pays a premium, which is added to the loan payment, based on the current loan balance so if the loan is paid down or off early, the premium will be less. Coverage is available for the primary borrower only. The member must be younger than age 66 and working at least 25 hours a week to qualify for this coverage. Coverage is limited to $50,000.00 per loan, $750.00 per month per loan and 120 months per loan. Rates are affordable - $2.00 per $1,000.00 of outstanding loan balance.

Credit Life Insurance

Credit Life Insurance offers protection and peace of mind to a member's family by providing coverage that makes payments to the credit union to pay off a loan if the member dies before the loan is repaid. The member pays a premium, which is added to the loan payment, based on the current loan balance so if the loan is paid down or off early, the premium will be less. Single and joint coverage is available. Member must be younger than age 70 to qualify for this coverage. Coverage is limited to $50,000.00 per loan and 120 months per loan. Rates are very affordable - $1.00 per $1,000 of outstanding loan balance for single and $1.67 per $1,000 for joint.

GAP Insurance

GAP insurance pays for the difference between what ordinary automobile insurance coverage pays for a "total" loss based on book value and the amount that would need to be paid to the dealership based on the original price of the vehicle adjusted by the lease payments made.

Extended Warranty Protection

Extended Warranty Protection extends the factory warranty benefits on new and used vehicles. This program covers mechanical and electrical components/repairs when the factory warranty has expired as long as the vehicle is serviced as required. The coverage is affordable, usually 20% to 60% less than plans offered by dealers. The cost can be added to the loan payment or purchased outright. Members can purchase this protection for vehicles not financed by PEFCU.