KBA INSURANCE, INC. - FEE INCOME AND COLLATERAL PROTECTION PRODUCTS
TRADITIONAL CREDIT LIFE AND DISABILITY PROTECTION
Central States of Omaha (CSO) and American National Insurance Company (ANICO) credit protection programs provide
excellent protection for borrowers and a great source of fee income for financial institutions. Initial and ongoing product
knowledge, sales training and support are provided by KBA Insurance staff and CSO/ANICO.
TRADITIONAL MORTGAGE LIFE & DISABILITY COVERAGE
Decreasing mortgage life and disability coverage for real estate borrowers. Monumental General provides financial
institutions with competitive rates and coverage. Simple desktop rate calculations and application completion
software make this program simple to administer.
TERM LIFE INSURANCE
Premium guaranteed for terms up to 30 years with level death benefits. This is very affordable coverage for
agricultural and commercial borrowers. An easy one page application and streamlined underwriting simplifies
this process for lenders.
CUSTOMER BENEFIT PLANS
Affinion provides customer retention and marketing programs to a financial institution's DDA customers including Club
Checking and customer appreciation programs that are GLB compliant and can provide an opportunity for the institution to
build stronger relationships with customers while generating fee income. Affinion is endorsed by ABA and currently works
with over 5,000 financial institutions nationwide.
MORTGAGE IMPAIRMENT ERRORS AND OMISSIONS POLICY (MIE&O)
Blanket policy that protects lenders interest in the event the financial institution suffers a loss due to the borrower failing
to maintain adequate coverage on commercial and residential real estate. MIE&O can eliminate the need for tracking
hazard insurance on mortgaged property and helps satisfy regulatory requirements.
LENDER PLACED HAZARD INSURANCE
Allows lenders to force place hazard insurance on borrowers that are failing to maintain insurance on real estate.
Lenders have instant authority to bind coverage on known uninsured occupied or vacant commercial or residential properties.
This coverage can also be used for OREO properties. Liability coverage is also available under a separate application and policy.
FLOOD ZONE DETERMINATIONS
ServiceLink (formerly LPS) is one of the leaders in the U.S. providing service to 7 of the top 10 lenders in the nation. 93% of the
standardized addresses processed are returned immediately. Competitive Life of Loan rates and free re-certifications
on refinanced loans are offered. Enhanced, no-cost benefit "Certmap" provides lenders with aerial photos of property
located in the SFHA in conjunction with the actual flood zone area.
GUARANTEED AUTO PROTECTION (GAP)
KBA Insurance, Inc. partnered with Frost Financial to protect borrowers against depreciating auto values. GAP pays the
deficiency balance between the loan balance and the actual cash value when the auto is totaled. Frost's website allows the lender
to follow the program from start to finish and to calculate the potential GAP on each loan.
VENDORS SINGLE INTEREST (VSI) AND COLLATERAL PROTECTION INSURANCE (CPI)
VSI eliminates the need to track insurance on titled collateral. The borrower is charged a small premium which is used to
cover losses when a delinquent account is repossessed and there is uninsured physical damage. The lender benefits
from a reduction in charge-offs from 10% to 20%. CPI allows lenders access to a web-based program to administer and force
place coverage on all types of collateral once the financial institution is aware through their tracking system that coverage
has expired or lapsed. Coverage is available on commercial collateral.
RESIDX RESIDENTIAL PROPERTY EVALUATIONS
Timely, objective, quality "Evaluations" stimulated by the regulator's insistence on transparency and fairness are what this service
is about. It is available as a simple Exterior account, an Exterior with rear-view, and an Interior-Exterior inspection. These services
have been very beneficial in assisting lenders in complying with the Interagency Guidelines and allowing lenders to avoid
costly appraisals for residential loans below $250,000.
CONTINUING EDUCATION CREDIT
KBA Insurance, Inc. provides the opportunity to get 6 hours of Continuing Education credit for those financial institution
employees with a life and health license. Sessions are approved by the Kansas Insurance Department and are held
at several locations across Kansas.
For additional information, contact: