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Debt Protection Plans

Debt Protection is a lender product that is typically fully insured and administered by an insurance company.  Debt Protection plans provide for cancellation or suspension of loan payments upon occurrence of certain events involving a borrower including:




Family Leave

Debt Protection plans give a lender greater design and pricing flexibility compared to traditional credit insurance.  Following are some of the advantages of Debt Protection versus traditional credit insurance:

·        Debt Protection programs are not subject to state credit insurance regulations.

·        Debt Protection retail pricing is determined by the lender.

·        Debt Protection offers the lender flexibility in plan design.

·        Debt Protection has no licensing requirements for employees of the lender.

Debt Protection programs typically do not vary in design or pricing when multiple states are involved