Your credit union provides an array of insurance products for your needs.
- Accidental Death and Dismemberment Insurance
All members of Mattel Federal Credit Union are eligible for $1,000 of Accidental Death and Dismemberment. You may add to this insurance for an affordable additional cost.
- Credit Disability and Credit Life Insurance
Credit Disability Insurance and Credit Life Insurance can be bought in separate packages. Credit disability takes care of the scheduled payments for your loan should you become temporarily or permanently disabled. Credit life will repay the loan in the event of death. These insurances cost a few cents a day to protect you and your love ones.
- Guaranteed Asset Protection (GAP)
It is a very well known fact that the moment you drive a vehicle off the dealer's lot, your vehicle price already depreciated by the thousands. In the event that your vehicle be declared totaled or stolen, your insurance company will only cover the current value of your vehicle and not the outstanding balance of your loan. With a one-time payment of $399.00, Guaranteed Asset Protection (GAP) will protect you by paying off the remaining balance of your credit union vehicle loan after applying the insurance proceeds. In addition, GAP will pay $1,000 towards your next car if financed with the credit union.
- Mechanical Breakdown Protection (MBP)
Mechanical Breakdown Protection (MBP) is an extended warranty on your vehicle that takes effect once your standard dealer warranty expires. Unlike dealership extended warranties, MBP is actually an insurance, not just a warranty, so its price is regulated by the California Department of Insurance. Also, unlike dealership extended warranties, you can take your vehicle for repair to any dealership or any approved mechanic and, in some cases, MBP will even pay part of the cost of a car rental while your vehicle is being repaired.