First Fidelity offers a wide variety of personal insurance products to help give you a peace of mind that you are prepared no matter what circumstances you might incur in life.

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Type of Insurance
Credit Life More››

Credit Life

What is Credit Life?

Payment Protection provides insurance that benefits the client, the bank and the associate.  Payment Protection was designed to guarantee that the insured loan obligation will be paid in the event the insured dies or becomes disabled. Credit Life (Payment Protection) is a voluntary purchase at loan origination.

Three types of coverage: 

  • Credit Disability (available independent of credit life), which pays a daily benefit towards the monthly loan payment if the customer is disabled and unable to work. After a defined waiting period, benefits are paid retroactive to the first day of disability
  • Credit Life pays the outstanding loan balance upon the death of the insured*.
  • Term Insurance

* In the case of accidental death, an additional benefit payment goes to the beneficiary; the amount
of the benefit is the full amount of the policy (original amount of the loan).
The primary borrower can have credit life & A&H without the secondary subscribing.

Guaranteed Auto Protection (GAP) More››

Guaranteed Auto Protection (GAP)

There are a multitude of unforeseen events that result in a total loss to vehicles.  Thousands of vehicles are stolen and never recovered. Just because a borrower has car insurance does not mean their loan will be paid off. GAP provides much needed financial protection at a minimal cost so that the borrower is not left owing money on the loan.

What is GAP?

  • Guaranteed Auto Protection is not insurance. It is a Debt Cancellation Agreement.
  • GAP is designed to eliminate the borrower’s unpaid loan balance in the event of a total loss or theft, whenever the insurance settlement fails to pay off the loan.
  • The deficiency balance includes the borrower’s insurance deductible up to $500.

Benefits 

  • Enables borrower to finance more than Loan to Value, especially when financing tag, title and tax, extended warranty, credit life.
  • Greatly reduces or eliminates remaining loan balance after the insurance settlement in the event of a total loss or unrecovered theft.
  • Increases borrower’s purchasing power on a replacement vehicle by eliminating a carryover balance. Breaks that cycle of being upside down.
  • Eliminates a borrower’s “out of pocket” responsibility such as their deductible up to $500.
  • Helps protect borrower’s credit rating. Many borrowers would not be willing to continue to make loan payments when they no longer have the vehicle to drive because it is totaled or stolen.
  • Maximum benefit for minimum cost. GAP costs only a few dollars a month or only
    pennies per day.
  • Added benefit for collateral that is prone to rapid depreciation, has high mileage, or does not hold its value for a multitude of other reasons.
Long Term Care More››

Long Term Care

What is Long Term Care?

Long-term care insurance helps provide for the cost of long-term care beyond a predetermined period. Long-term care insurance covers care generally not covered by health insurance, Medicare, or Medicaid.

Click here for more information on Long Term Care.

Term Life More››

Term Life

15 Year Level Term Insurance 

  • First Fidelity Bank makes available 15-year level term insurance as an alternative to credit life payment protection.  The 15 year policy can be kept for 15 years by the client, even after the loan is paid off, the policy remains the same amount (level) for 15 years
  • The client can pre pay the premium for the term insurance policy for as many years as they wish (up to 15 years); (the policy is a 15 year policy and can be kept as long as the annual premiums are paid (up to 15 years).
  • The premium can be financed into a loan, typically the amount financed is the amount of pre paid premiums for the term of the loan, an assignment is placed on the policy by First Fidelity Bank
  • Minimum annual premium is $120.00
  • All policies are subject to approval (required blood and urine tests are sometimes applicable)
  • A beneficiary must be selected (the bank is not the beneficiary, it merely has an assignment for a loan, when applicable)
Vehicle Service Contracts More››

Vehicle Service Contracts

Benefits & Features

  • Competitive Rates
  • The coverage gives the highest degree of protection and is the most comprehensive plan available on the market. The coverage is so extensive it only names what is excluded from coverage
  • The plan uses National Auto Care (NAC), NAC is well known locally, dealers and service providers are very familiar with the company
  • No Wear and Tear Exclusion
  • Roadside Assistance Benefits
  • Towing on all mechanical breakdowns
  • Immediate claims authorization
  • No out of pocket expense