Creditor Protection

Credit Card and Overdraft Payment Protection

Our Credit Card and Overdraft Payment Protection provides your customers with assistance with their credit card repayments and other credit arrangements (such as overdrafts) if they are unable to work due to accident, sickness, disability or involuntary unemployment. Typically, this protection would pay a percentage of your customer’s outstanding card balance or overdraft limit on a monthly basis for up to 12 months or until they return to work (whichever is the early event). In addition, a life cover would pay off the outstanding balance in the event of death.

CLIENT BENEFITS

Fulfils market needs

Current economic conditions suggest an increased risk of redundancy. Our product could therefore help if this means your customers struggle to meet their credit repayments.

Addresses your customers’ requirements

This product can be tailored to match different customer requirements as you can choose what events you would like the product to cover from accident and sickness to involuntary unemployment and even death.

CUSTOMER BENEFITS

Wide coverage

The product provides your customers with repayment cover for all kinds of unforeseen life events, from accident and sickness to involuntary unemployment and even death.

Greater confidence

With cover in place for their monthly commitments, your customers know they can meet their repayments should the unexpected happen.

To contact the team at Genworth please click here