Integrated payment protection: A win for your business and your customers

For decades, payment protection has helped borrowers safeguard their finances and given lenders greater stability. Today, as digital lending reshapes expectations, payment protection is stepping into a more strategic role by supporting borrower confidence, operational efficiency and portfolio strength.

Here’s why forward-thinking lenders are reimagining the role of payment protection and why now is the time to integrate it more fully into your digital experience:

The evolution of payment protection

Payment protection isn’t new. It emerged as an option designed to support borrowers during unexpected life events, such as job loss, disability or loss of life. Historically, though, these products were presented late in the lending process, often through in-person conversations or paper disclosures. Adoption depended heavily on staff training, customer comfort and manual steps along the way.

As the lending environment grew more complex and borrowers’ expectations evolved, so did payment protection. What was once an “add-on” product soon became a tool for promoting financial stability. Lenders recognized that borrowers weren’t just looking for loans; they were also looking for security, predictability and support in times of need. As a result, payment protection shifted from a reactive offering to a proactive strategy.

Digital experiences offer new opportunities

The rapid rise of digital transformation has broken old barriers. As a result, borrowers now expect lending experiences to be online, simple, transparent and mobile friendly. Lenders want to increase clarity and remove friction. Integrated payment protection creates value for both borrowers and lenders.

For lenders, automation reduces the administrative time associated with paper processes. Enrollment, servicing and claims can be streamlined, allowing teams to focus on higher-value work.

For borrowers, digital journeys allow payment protection to be offered at the exact point where they are reviewing loan terms and assessing affordability. Instead of a rushed conversation or a long disclosure, it becomes part of the decision-making process. When protection is fully integrated, borrowers don’t have to click away, re-enter data or wait for an agent’s help. The experience is cohesive, reducing drop off and supporting conversion. Digital transformation has made payment protection more accessible, more transparent and more aligned to the way people want to borrow.

And the results are promising. Securian Financials’ latest case study, “30% opting in: The case for digital payment protection,” highlights the impact of an end-to-end digital lending solution experience by a participating credit union. The results showed that over 30% opted for payment protection, with more than 70% selecting a premium plan when offered several plan options at different price points.

Outcomes that matter for borrowers and lenders

Integrated payment protection delivers benefits that reach beyond the lending transaction.

For borrowers

• Greater financial stability during times of hardship
• Confidence when taking on a loan
• Clearer understanding of how protection supports them
• Peace of mind that they can weather disruption without derailing their financial goals

For lenders

• Stronger loan performance through reduced delinquency and default risk
• Higher customer satisfaction and loyalty
• Differentiation in competitive lending markets
• More predictable revenue through consistent program participation
• Operational efficiencies through streamlined digital processes

Digital lending supports both sides: Confident customers and stronger loan portfolios.

We’ve got you covered

Whether you are looking for help integrating payment protection into your current lending experience or need help creating a full end-to-end lending experience that also offers payment protection, Securian Financial is here for you.

Our team brings decades of expertise, modern digital capabilities and a shared commitment to strengthening borrower outcomes. We help you deliver protection at the right moment and in the right way, giving your customers added confidence and your business a more efficient lending experience.