Add value to premium checking with voluntary protection products

Increasing non-interest income to help cover costs and introducing new services and services while also staying true to your financial institution’s mission can be tricky. One way to do so is by introducing new products that complement your current offerings and bring value to your new and existing consumer base. To that end, voluntary protection products, often available in combination with premium checking accounts, are a great option for financial institutions to add to their product and service portfolios.

Why offer voluntary protection products?

You’re probably already familiar with voluntary protection products, even if you don’t recognize the term. Voluntary protection often takes the form of small-ticket protection, such as insurance or extended warranties for cell phones, discounts, and emergency services. It also encompasses small, specific-purpose protection, such as travel insurance.

 

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