What is job loss insurance?

Q: What is job loss insurance?

Job Loss Insurance is a voluntary insurance product that helps make eligible loan or mortgage payments if a borrower experiences involuntary unemployment due to a covered job loss. Benefits are paid according to the policy's terms, conditions, limitations, and exclusions, helping borrowers meet financial obligations during periods of unemployment.

Job Loss Insurance

Insurance

Job Loss Insurance is a voluntary insurance product that helps make eligible loan or mortgage payments if a borrower experiences involuntary unemployment due to a covered job loss. Benefits are paid according to the policy's terms, conditions, limitations, and exclusions, helping borrowers meet financial obligations during periods of unemployment.

Job Loss Insurance provides temporary payment assistance after a covered involuntary job loss, helping borrowers remain current on eligible loan obligations.

Why it matters for financial institutions

Job Loss Insurance helps borrowers navigate unexpected unemployment while reducing the risk of loan delinquency and default. For financial institutions, it supports portfolio performance, strengthens customer relationships, and enhances lending programs with valuable voluntary protection products.