Job Loss Protection
May Help You Make Your Mortgage Payments If You Lose Your Job
Through participating lenders, some loans with Genworth MI feature Job Loss Protection benefits in the event that you become involuntarily unemployed.Advantages of Job Loss Protection
If your loan includes Job Loss Protection benefits, you may be able to take advantage of these benefits if you become involuntarily unemployed:- Helps protect credit by keeping up with your mortgage payments
- Safeguards the investment in your home
- Makes emergency savings go further
- Provides some peace of mind during the stress of unemployment
With Job Loss Protection benefits, if you become involuntarily unemployed, your mortgage may be eligible for up to six monthly payments during the benefit period (up to three years after the loan closes).
How Do I Get Job Loss Protection?
Not all loans insured with Genworth Mortgage Insurance include Job Loss Protection. Job Loss Protection cannot be added onto a loan insured with Genworth Mortgage Insurance after closing. Ask your lender about Job Loss Protection before you close on your loan.Job Loss Protection is provided by a third party and backed by an A.M. Best " A" (excellent) rated insurer. Please note that the Job Loss Protection program described herein is subject to conditions, exclusions and restrictions not necessarily included in this Summary. Job Loss Protection is not available on all loans or through all lenders and is subject to availability at the time of loan closing and may be modified or withdrawn without notice.
