Debt protection

A debt protection program is an option for banks and lenders looking to market an additional revenue-generating service to customers with closed- or open-ended loans or credit lines.

Scope of program

• Turn-key services for program administration, underwriting, risk transfer
• Partial or full risk transfer to a contractual liability policy
• Benefit activation and processing
• Product development assistance, analysis and reporting
• Comprehensive reinsurance capabilities

Benefits

• Lender-defined program provides marketing flexibility and simplified administration
• Uniform program instead of state-by-state variations
• Lower administration costs
• No insurance licensing requirements for solicitation
• No filed insurance forms, unlike traditional credit insurance
• Program and pricing flexibility
• Branding of debt cancellation product

Training

Through on-site, online and self-paced training options, we provide both new hires and veteran staff with the skills to:

• Match a customer’s need with the best-fit program
• Establish a comfort level with program selling points
• Learn how to address objections
• Spot cross-sell opportunities
• Close more sales