Covr Financial Technologies, Americo Life, Inc. and SCOR launched the LoanMatch Protector product. This is a first-of-its-kind life insurance policy that is customized to a consumer’s specific loan amortization schedule, according to a press release.
Loan originators and brokers are able to offer the product during or after the closing process of a loan. The product can be digitally integrated into any platform that an LO or broker uses, which also makes it easier for consumers to apply and receive approval. It can also serve as an additional profit center for a mortgage company or lender, with the ability to receive a commission on policies that are purchased.