Credit Life Insurance

CREDIT LIFE INSURANCE

The credit life insurance product is used by financial institutions that wish to insure the risk of insolvency caused by the life or incapacity of the borrowers. In addition to getting an extra, non-operating income.

The Insurance Covers:

Moderate limitation of acting ability
A significant limitation of acting ability
Absolute limitation of acting ability
And the borrower's death.

Product Benefits

01. Responsibility For Borrowers

If a person has taken a loan from the credit institution and has come up with an insurance case, his family is entirely (in case of death of the borrower) or partially (in accordance with the limitation of the capability) exempt from the payment of the remaining loan and the insurance company fulfills its obligations.

02. Loan Financing

As a result of insurance incidents, the liability of the borrower is fulfilled by the insurance company, which insures the risk of potential insolvency of the borrower and reduces the volume of problem loans.

03. Non-operational Income

Depending on the special insurance tariff, which the Credit Organization receives in response to the Borrower's insurance, it has the opportunity to receive additional, non-operational income.

Attached files

Insurance Process

At the meeting, we will discuss the company's needs for credit product insurance, general conditions, and advantages of the product.

Based on the current condition and future financial plan of an organization, we complete the product application.

According to the study of product demand, we develop the tender document, organize the tender, receive the insurance proposals

and process them.

According to the analysis of insurance proposals, we choose the best offers from the insurance company with you and are working on a

contract under the agreed terms.

Upon activation of insurance services, we provide instructions for proper service management for an organization and ensure the

monitoring of insurance cases.

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