Loan Insurance Products

Protect your purchase and your family against the unexpected.

Protect what matters most.

Life can be wonderful, but can become complicated when unplanned things happen.  Insure your investment today so you can worry less about your tomorrows.

We know what’s valuable to you, so Meridia has partnered with CUNA Mutual/Members’ Choice to offer a selection of insurance options for your loan.


  • Protect yourself against losing your purchase in the event you are unable to work and earn income to pay monthly loan payments.
  • Affordable coverage included in your monthly loan payment.

What’s Available?

  • Credit Life Insurance & Credit Disability Insurance. Life is unpredictable – insurance protects against the unexpected impacting your financial well-being by covering your loan balance* if you die during your loan term, or your monthly payments* if you become disabled during your loan term. Learn more!
    *Insurance protects loan balances up to $30,000.
  •  GAP (Guaranteed Asset Protection) Insurance. A wrecked vehicle can wreck your finances if you owe more on your loan than your insurance will pay. GAP Insurance can help fill the gap between what your insurance will pay and what you owe on your loan. Learn more!
  • Mechanical Repair Coverage (MRC). A comparable, more affordable version of your auto dealer’s extended warranty, MRC protects you against many of the costly repairs no longer covered by your vehicle’s manufacturer’s warranty. Learn more!


Credit Life InsuranceSingle Life $0.54 / $1,000
Joint Life$0.87 / $1000
Credit Disability InsuranceSingle Coverage$1.49 / $1000
Joint Coverage$2.83 / $1000
GAP InsuranceOne-time Premium$299
MRC InsuranceOne-Time PremiumBased on vehicle purchased and level of coverage

Frequently Asked Questions

When is the premium due for GAP Insurance?

The premium is due at loan closing, and can be paid or financed in to the loan amount.

Is there a waiting period before a claim can be paid for Credit Life and Credit Disability insurance?

For life insurance, there is no waiting period. There is a 30 day waiting period for disability insurance claim payment.

Is there an age limit for Credit Life or Credit Disability Insurance?

To obtain Credit Life Insurance coverage, the borrower must be under 70 years of age. There is no age limit for Credit Disability Insurance, however the insured must work at least 25 hours per week.

Who can be insured for Credit Life and Credit Disability Insurance?

Borrowers and co-borrowers can both be insured either with individual coverage or joint coverage.

Is Mechanical Repair Coverage (MRC) on available for new vehicles?

No – MRC can be placed on used vehicles 10 years old or newer, with less than 100,000 miles. The vehicle cannot have a salvaged title or be a commercial vehicle.

What is the maximum amount of coverage for GAP Insurance?

The maximum is $50,000 per loan.

Live for today – protect for tomorrow.

Peace of mind for a minimal cost included in your monthly payment.