All the benefits of Credit Insurance – with greater program flexibility.
Debt Protection is an exciting alternative to the highly-regulated Credit Insurance products credit unions have relied on for many years.
Like Credit Insurance, Debt Protection helps protect credit union members when specific events impact their ability to repay loan obligations. It safeguards lending institutions from costly charge-offs, delinquencies and collections. It also produces an important source of fee-based income for participating credit unions.
Debt Protection is simple and is not regulated by state insurance departments with respect to rates, benefits, policy forms and licensing. It also results in a major reduction in red tape.
Gain a competitive advantage.
Your credit union can use Debt Protection to deliver products far beyond the conventional life and disability coverage your members have come to expect. Debt Protection lets your credit union reduce or discharge the members’ debts in the event of death, disability, involuntary unemployment, family medical leave of absence and other events. It also delivers a significant competitive marketing advantage for your credit union by giving you the flexibility to choose the types of coverage that make the most sense for your member base.
Available to all federally-chartered credit unions and most state-chartered credit unions, Debt Protection delivers a number of other benefits. The more loans that are protected, for example, the lower the risk of loan default to the credit union. The array of coverages offered in the Debt Protection line also enhances member satisfaction. If you are ready to make more money and increase member satisfaction, it’s time to explore this smart new alternative to Credit Insurance.
Contact Insurance Trust today for more information at 207-773-0925 or complete the form below.