Debt Protection Provisions are a specialty of The Financial Group. In fact, we’re the industry leader in this innovative payment/loan cancellation protection that’s just begun in the last two years to replace Credit Life Insurance for savvy lenders looking for a competitive edge, fee generation and improved customer service.
Debt Protection Provisions (DPP) are not insurance products. They are addenda to loan documents that provide, for a fee, protection for the borrower(s) to make required payments, repay a debt or maintain a healthy credit rating in the event of covered life altering events. A recommended "start up" DPP Program would include the following provisions:
- Involuntary Unemployment
- Family Leave
These Provisions can be packaged or bundled to create customer appeal and pricing affordability.
Fewer decisions for the borrower = more sales.
Debt Protection Provisions and Packages can be custom tailored for your lending institution.