When customers apply for your auto loan you can offer them credit insurance as protection. There exists several types’ credit insurance that will make the car loan payments if the customer cannot for certain unexpected reasons.
Credit life insurance: Credit life pays off or reduces the loan in the event of the covered borrower’s death. The benefits to the consumer will depend on the options they have selected to meet their needs.
Credit Disability: Credit disability pays the scheduled loan payment or a portion of it, if the covered borrower becomes totally disabled due to a covered accident or illness. Benefits are paid to the financial institution holding the loan depending on the options that meet the consumer needs.
Our Credit Insurance program is a mutually owned insurance company, specializing in the debt protection market, providing innovative solutions and value to lenders, agents and policyholders.