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Products |
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Credit Disability
Insurance
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Net Term Insurance
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Quick Issue
Insurance -Protects both the borrower and the
lender from physical damage loss to vehicles, boats, mobile homes,
motorcycles, aircraft and more. it can be placed for the life of the
loan or at anytime after the loan is made. The borrower is charged a
premium of approximately 10.000% of the loan balance and receives
coverage on a decreasing basis for the term or coverage. The lender
can receive a commission if properly licensed.
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Blanket VSI - A pure form of single interest insurance
that only protects the lender from loss to vehicles, boats,
trailers, aircraft, motorcycles and other rolling stock. The cost
for this coverage is approximately $15.00 per new loan. This one
time charge covers the collateral from physical damage, theft, skip
and fire for the life of the loan.
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Mortgage Protection Insurance
Gulf Guaranty is an agent for several major producers of homeowners
and mortgage property insurance companies. We offer competitive
rates and coverages.
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Personal Property Insurance
Personal property insurance is placed on household goods. Gulf
Guaranty is a major producer of the product and is competitive in
coverage and rates.
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Loan Tracking Program
and Insurance Placement
Loan Tracking Program and Insurance Placement is a state-of-the-art
insurance tracking program that determines for the financial
institution what the insurance status is of each and every loan in
the financial institution's loan portfolio. We can track vehicles,
homeowners, flood, titles, and more.
Some benefits of this program are when used in
conjunction with insurance placement are:
- It eliminates physical damage loss.
- It reduces re-possession.
- It reduces clerical cost involved in
insurance follow-up.
- It creates an earning asset from the
interest income of the insurance premium.
- It provides an alternative to an
uninsurable borrower.
- It provides automatic coverage.
(Similar to error and omissions.)
- It produces elaborate management
reports.
- It satisfies regulatory authority.
- It prints and mails notices to the
borrowers.
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