Creditor Protection

Personal Loan Payment Protection

Our Personal Loan Payment Protection will help your customers to repay their personal loan if they are unable to work due to accident, sickness, disability or involuntary unemployment. In these circumstances, we would pay the monthly repayments for up to 12 months or until they return to work (whichever is the early event). In addition, there is typically a life cover that would pay off the outstanding balance of the loan in the event of death. No medical underwriting is required.

CLIENT BENEFITS

Meets market needs

Current economic conditions bring an increased risk of redundancy. Our product could therefore help if this means consumers struggle to meet their loan repayments.

Safeguards your customers’ lifestyles

This product will have wide appeal to customers who use personal loans and credit cards to help finance their lifestyles through high levels of unsecured debt.

CUSTOMER BENEFITS

Asset protection

By enabling them to manage their repayments, this product helps your customers to maintain their lifestyle and keep what they have purchased without the threat of legal action or repossession.

Greater confidence

Being able to maintain a lifestyle and standard of living can provide a powerful confidence boost when adapting to a reduced income.

To contact the team at Genworth please click here