Payment Protection

Texell offers a variety of payment protection options for your loans. 

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For more information on how to include these options, speak to your specialist during the loan application process.

Credit Life Insurance — This insurance policy pays off the loan balance to the credit union and offers a Funeral Concierge service in case of the member’s death.

Credit Disability Insurance — This insurance policy makes the monthly loan payment to the credit union to reduce or pay off a loan if the member becomes disabled by a covered sickness or accident.

Involuntary Unemployment Insurance – This insurance policy makes the monthly loan payment to the credit union if a member becomes involuntary unemployed due to a layoff, strike, termination, unionized labor dispute, or lockout.

Guaranteed Asset Protection (GAP) — This feature pays the difference between the actual cash value of the vehicle and what is remaining on the loan for an automobile, RV, boat or motorcycle in the event the vehicle is totaled or stolen before the final payment.

Extended Warranty — Extended Warranty provides valuable protection against the costs of most unexpected mechanical repairs