For MultiYear Protect qualifications, what is the minimum loan term and maximum term?

For MultiYear Protect qualifications, what is the minimum loan term and maximum term?

• A. Min 12 months, max 48 months.
• B. Min 36 months, max 60 months.
• C. Min 24 months, max 72 months.
• D. No term requirement.

Answer: (B)

MultiYear Protect is built to run for a set range that matches typical loan tenors. The protection is designed to cover a loan term between three and five years, so the minimum eligible loan term is 36 months and the maximum is 60 months. This window ensures the policy duration aligns with the loan’s payoff schedule and the product’s premium structure. Terms shorter than three years don’t fit the plan, while terms longer than five years aren’t supported.

MultiYear Protect is built to run for a set range that matches typical loan tenors. The protection is designed to cover a loan term between three and five years, so the minimum eligible loan term is 36 months and the maximum is 60 months. This window ensures the policy duration aligns with the loan’s payoff schedule and the product’s premium structure. Terms shorter than three years don’t fit the plan, while terms longer than five years aren’t supported.