Does your FI require the consumer to sign that they decline to purchase anciallary products such as GAP, Mechanical Protection or Credit Life and Disability?

If so, is it because of the contract you have with the vendor or is this required by another reason or just best practice?

Thank you

Not a banker, but as a consultant, I advise you to have customers sign they are not purchasing the products, when offered. Over my nearly 30 years, I've seen a few cases (only a few) where someone claimed they wanted credit life/disability insurance and somehow won the case. These are extreme cases, but it's nice to have the evidence you offered and they declined. Also, if your institution makes this a procedural requirement, it allows you to offer it to every consumer - and possibly result in more sales.

I echo what Dave says as getting the signature is your ace in the hole if you ever have to go to court over a dispute. It's not required, but a risk reducing, best practice.

Thank you.