COLUMBUS, Ohio, Sept. 11, 2019 /PRNewswire/ -- Golden Eagle Insurance, Inc, headquartered in Central Ohio, has launched an innovative new product to help Credit Unions, Banks, and Auto Lenders take care of their customers in case of an unexpected life event. We listened when lenders said they wanted to be able to provide protection when their customers need it most and are proud to introduce LEAP or Life Event Auto-loan Protection. The new waiver program is a fully customizable negative equity program based on the customers' needs. It is backed by an A-Rated Insurance Company with award-winning customer service and claims management.
Borrowers appreciate the peace of mind the protection offers, knowing that they can return the vehicle, free themselves from payments, positively eliminate their loan, and protect their credit in case of unexpected life events.
This remarkable new product offers seven different coverages and the opportunity for a borrower to simply turn in their car when enrolled. The waiver provides protection for unemployment, international employment transfer, permanent military change of station, self-employed bankruptcy, loss of drivers' license from illness or injury, disability, or accidental death*. The plan allows for three payments or return of the collateral and covers depreciation*. One way to explain this to potential borrowers is to think of it as GAP coverage for life events.
In addition, LEAP enables lenders to reduce chargebacks and generate revenue. "LEAP will be a game-changer as far as optional borrower products go because it comes with a very affordable price tag and offers a very attractive package of benefits," said Bill Jones, President of Golden Eagle Insurance, Inc. The new product fills the gap in keeping both the customer and lender whole when unforeseen life events occur in the auto lending environment.
Golden Eagle Insurance continues to be a national leader in developing these programs. "Community lenders appreciate the long-standing experience that we have with these products as well as our underwriting recommendations on how to properly and efficiently insure their portfolios," said Tod Hastings, VP, Regional Business Development.
About Golden Eagle Insurance, Inc.
Founded in 1995 by William Jones in Central Ohio, Golden Eagle Insurance is an innovator and specialist in lender portfolio protection and administrative relief. Golden Eagle Insurance offers a comprehensive selection of products to protect and complement mortgage, consumer, and commercial portfolios across the United States. Our flagship product, Blanket 360 Insurance, has helped credit unions and banks across the nation become more efficient in a customer-centric, examiner friendly way.
*Subject to terms and conditions of their policy.
SOURCE Golden Eagle Insurance