Warranty and protection-plan billing is "future performance" in network language — the cardholder pays today for coverage that might be claimed in year three. Banks place operators who can show claim reserves, underwriting behind the plan (who actually pays claims), and cancellation math that doesn't detonate into chargebacks.
Backed plans (insurer or reserve-funded) run ~3.5–4.5%. Self-funded plans price higher and need real actuarial paper.
Who pays claims (obligor structure), state registrations, cancellation/pro-rata refund terms, and claim ratios if you have history.
Show coverage as a timeline with funded claims, not a sales pitch. Underwriters approve balance sheets, not brochures.