Voluntary Products
Republic Finance is in the business of providing affordable credit solutions to our customers. However, sometimes life does not go as planned. In order to help our customers with unexpected events, Republic Finance offers the purchase of voluntary products that may protect our customers when qualifying events occur!*
*The purchase of any voluntary product is optional, and it is not a requirement when booking a loan with Republic Finance.
What are voluntary products?
Voluntary insurance products are various types of insurances offered by Republic Finance when closing a loan with our branches that may help ease your financial burden if a qualifying event occurs. Additional voluntary products sold also include Motor Club memberships that can provide roadside assistance services. The voluntary products we offer are designed to help our customers get through difficult situations.
Why do these products benefit our customers?
If you ever find yourself facing financial hardship due to an unforeseen circumstance, voluntary insurance products may help relieve some of your financial burden by paying towards your Republic Finance loan based on a qualifying event. Without voluntary insurance products, you may be responsible for your full monthly payment, while also dealing with a potential unforeseen tragedy or accident. In additional, Motor Club membership provides useful roadside assistance services when you find yourself involved in a travel emergency.
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How to get a voluntary product
1
Apply with one of our team members
Our trusted team members will take your application and inform you of all the voluntary products you may qualify for.
2
Review your product options
Review your voluntary product options, ask any questions, and choose the voluntary product(s) you would like to purchase with your loan.*
3
Your premiums are included in your loan
You pay a single premium for voluntary products, which is included in your loan balance. No monthly or annual insurance payments.**
Not all customers are eligible to acquire our voluntary products. The purchase of any required insurance from Republic Finance is optional. Coverage may vary depending on your state of residence. Credit Vehicle Insurance product does not replace required liability insurance. Motor Club is not a form of insurance. The purchasing of a Motor Club membership is not a condition to book a loan with Republic Finance.
Credit Property Insurance
This policy protects the non-titled personal property items used as collateral on your loan in the event of loss or damage.
Credit Vehicle Insurance
This policy covers the customer’s insured amount if the titled property used as collateral is damaged and deemed a total loss.
Involuntary Unemployment
Pays a monthly benefit towards your loan if you become involuntary unemployed due to non-seasonal layoff, termination by employer, or lockout for a specific period.
Credit Accident & Health Insurance
This policy covers your regular monthly payment amount on a month-to-month basis when you are deemed unable to work for a specified amount of time, due to injury or illness.
Decreasing Credit Life Insurance
The Decreasing Credit Life Insurance policy is designed to pay the remaining scheduled payments on the loan as of the date of death.
Level Credit Life Insurance
This policy covers the total of payments amount for the contract. If the customer passes away, the account will be paid in full by the policy, and the difference between the total of payments amount and the payoff amount (as of the date of death) will be paid to the beneficiary.
Motor Club
This product is an automobile membership club which extends benefits to its members. These benefits cover the member only and are not tied to any specific automobile. It provides emergency roadside assistance (such as towing, winching, battery jump start, lockout etc.).
Not all customers are eligible to acquire our voluntary products. The purchase of any required insurance from Republic Finance is optional. Coverage may vary depending on your state of residence. Credit Vehicle Insurance product does not replace required liability insurance. Motor Club is not a form of insurance. The purchasing of a Motor Club membership is not a condition to book a loan with Republic Finance.