KBA Hodge & Porter - Risk Management/Fee Income Programs

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SPECIAL PROMOTIONS/NEWS ITEMS:

KBA Hodge & Porter Newsletter - June 2007
KBA Hodge & Porter Newsletter - September 2007
KBA Hodge & Porter Newsletter - December 2007
KBA Hodge & Porter Newsletter - March 2008

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Traditional Credit Life & Accident & Health Coverage
Many options through Central States Health & Life Insurance Company of Omaha and American National Insurance Company. Free point of sale software for loan payment calculations.


Lenders Single Interest (LSI / VSI)
This program provides coverage on collateral when borrowers fail to provide insurance protecting the lender's interest. In compliance with Regulation X the company waives the right of subrogation. A blanket policy covers new loans and existing loan portfolios. This cost is passed on to the borrower.

• To learn more, click here

Coverages Available:

• All risk physical damage
  
• Confiscation & skip
  
• Repossessed vehicle coverage
  
• Instrument non-filing

Guaranteed Auto Protection (GAP) Insurance
GAP Insurance provides protection from financial loss occurring when there is a difference between the Actual Cash Value of the vehicle and the loan balance at the time of a non-recovered theft or total loss. Our internet based program allows you to produce individual waiver forms and handles all administration activities for the program. Examples of GAP situations can be produced on a case by case basis and presented to the borrower at the time credit is extended.

• To learn more, click here

FACT Master Equity Loan Policy
Administered by Mortgage Protection Insurance Services, Inc. FACT is an alternative title solution for home equity loans to a maximum $250,000. This program expedites the Equity Loan closings and is economically priced and is delivered 24 hours a day through MPIS's secured website. This is an actual title policy protecting the bank against losses resulting from undisclosed liens, fraud, forgery and unpaid taxes unknown to the lender.


Lender Placed Hazard Coverage/Blanket Mortgage Impairment Errors & Omissions (MIEO)
This simple method provides property and liability coverage for borrowers that fail to obtain their own policy. The lender has instant binding authority to place both fire and flood coverage as needed for residential, commercial, mobile homes and bank REO properties. With Blanket Fire one annual premium covers your existing portfolio, eliminating of tracking each individual policy.

• To learn more about Lender Placed versus Blanket, click here

Flood Zone Determinations/Flood Insurance
LSI (formerly Fidelity National Flood Services) can provide your bank with Flood determinations in real time through their user friendly web based system. LSI offers competitive pricing and includes HUMDA and Census tracing information along with re-certifications at no additional cost. Life of Loan or single one-time orders are available. LSI also has alliances with several major companies to assist in placing flood policies for properties located in a SFHA.


Flex Plan - Single Premium Decreasing, Level Term & Mortgage Decreasing Term
Web-based premium calculations and applications. Policy can be guaranteed issue and delivered online! Just like credit life – single premium is financed in the loan. Premiums are based on age and no physical exams are required up to certain amounts. This product is ideal for younger borrowers with larger loans and long term payments. Mortgage term is set up on a monthly debit, so it is outside of "HOEPA".


Debt Coverage - Term
Term insurance with guaranteed premiums for 10, 15, 20 & 30 years. This coverage provides a level death benefit term to age 95 with premium guarantees from the date of original issue or issuance of a reentry policy. Receive a fast, free quote by fax or email.

• To learn more, click here

Miniter-CPI (Collateral Protection Insurance)
Miniter's Collateral Protection Insurance (CPI) is a creditor-placed program that is designed for lending institutions that typically have less than 5,000 outstanding loans. Miniter-CPI provides the lending institution a web based tracking system to track the borrower's insurance. The bank has total control over the program and decides when they want to force place insurance on the collateral.


Thank You/Club Program
The Hartford's $3,000 AD&D Customer Appreciation Program provides an excellent way to say "Thank You" for your patronage. This is a direct mail marketing concept for DDA accounts. This program complies with the GLB act.

• To learn more, click here

Bank Employee's Universal Life Program
This program is underwritten by United Life Insurance Company and provides permanent life and disability coverage for bank employees and their immediate family. Premiums are conveniently made through payroll deductions.


Child Guard
This product from Illinois Mutual provides a life product to protect a child's life and insurability. A $250 one time payment provides one unit of protection.

• 0-13 years of age = $5,000
  
• 13-18 years of age = $10,000
  
• 18-23 years of age = $15,000

The policy allows insurability guarantee to continue with permanent life coverage up to $100,000 at age 23.


Disability Income
The product from Illinois Mutual provides disability income protection outside of credit a & h. A variety of plans are available.


Excess Credit Life
Through two separate companies we can provide additional credit life and a & h coverage if your current company is filled up with coverage.