Miscellaneous Coverages Configuration

Description

Enter a full description of the miscellaneous coverage, including carrier name if desired.

Enter the miscellaneous coverage policy contract number for this code, as assigned by your vendor (letters, numbers, and punctuation are allowed).

Use the lookup and choose from a list of vendor names, such as CUNA, Allied, State National, etc.  This data will be included as part of the table containing these configuration settings (table name is INSMS) for Query purposes.  

• This is an an informational field that identifies the provider for this particular coverage.  If you choose to designate a Provider code.  Be aware that by choosing the code for CUNA you are agreeing to allow us to pass along general information about this product to CUNA Mutual on your behalf.  

Enter the cost of this coverage in the space provided. This fee can be changed at the time of the loan creation.

If the "Get fee amount from interface" field is selected, this must be zero, since the fee is calculated at the vendor website.  See below for more details.

When checked, the coverage amount is amoritized with the loan.

When checked, the fee amount is included in the modified APR calculation when the coverage is added to the loan application.

Automated Miscellaneous Coverage

This feature gives you SSO access to a vendor website which allows you to select additional mechanical breakdown, GAP or both that is sent back to CU*BASE to adjust the loan payment.

In order for your credit union to use this product, several things must be in place, including Operation activation, vendor integration, specific Miscellaneous coverage configuration, and special loan product configuration.  

TruStage Protection Advisor Integration booklet

Frost VisualGap Integration

Allied IQQ Reference Guide

• Important Note: If this field is used, the Fee Amount must be zero and the miscellaneous coverage must be configured to be the default for the loan product.

This field allows you to enter any comments for your staff that you would like to have associated with this insurance offering.

Special instructions on entering text in the Comment text box.

Description

If this coverage has been suspended, use this field to reactivate the coverage. If the coverage has not been suspended this button allows you to suspend the coverage.

Once a coverage is suspended, it cannot be added to a new loan. The coverage remains in the system, however, for use with loans previously created that have this coverage.

Use this to delete the debt protection code completely. DO NOT delete a code if any loans have been set up with this code. This is usually used only when a code is created by mistake and never used. There will be one confirmation window.

Use this to set up free-form text that your member can read when he or she clicks the “Learn More” button on an online loan application through online banking.