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Loan Payment Protection

Life is full of unexpected obstacles. True North’s payment protection options can pave the way through them.

The gracious way all staff responds to specific situations of member. Even bad news is treated with empathy.


Debt Protection

True North’s Debt Protection program can provide peace of mind, ensuring your loan payment is taken care of during times of hardship.

  • Life PLUS– The full balance of a loan up to $50,000 is cancelled upon death of covered borrower, dismemberment, or with terminal illness diagnosis. Additionally, Monthly payments will be covered on loans up to 3 payments with a maximum of $3000, for Family Medical Leave (Leaves of absence), if hospitalized for 48 hours or more, or in the event of the death of a dependent claimed for the past 2 years.
  • Disability – Pays a covered loan’s monthly loan payment up to 12 payments with a maximum of $12,000.
  • Involuntary Unemployment – After 30 day waiting period, makes monthly payment for 6 months, up to $3000.

Debt Protection is available on all loan products except business loans, real estate, and Alaska Heat Smart loans.
Additional Disclosures to these programs do apply and will be provided to you before you are required to pay for debt protection. These products are optional, and purchase of the product is not a condition of approval. Products can be cancelled at any time.

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Guaranteed Asset Protection (GAP) with Auto Deductible Reimbursement

If your vehicle is totaled or stolen and not recovered, GAP coverage pays the difference (up to $50,000) between your primary insurance’s settlement amount and your loan balance.

  • This coverage is available on Autos, Boats and Recreational Vehicle loans.
  • GAP coverage can be added when you close your loan, or at any time during the life of the loan.

Auto Deductible Reimbursement is a great ride along benefit that is FREE when you purchase our GAP product to protect your automobile. It pays up to $500 per loss (limit to 2x per year) when a claim is filed with your primary insurer on any of your autos.

Additional disclosures do apply and will be delivered at time of purchase of these products. GAP is optional, and purchase of the product is not a condition of approval.

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Mechanical Breakdown Coverage

Available on your Auto loans, this coverage protects you against unexpected maintenance expense and inconvenience. Packages offered include benefits such as:

  • Rental Reimbursement
  • 24 hour roadside assistance
  • Key Replacement
  • Travel Expense Reimbursement
  • And more!

Additional disclosures do apply and will be provided to you prior to purchase of product. Mechanical Breakdown Coverage is optional, and purchase of the product is not a condition of approval.