Group Credit Life Assurance
Group Credit Life Assurance provides life cover to a group of borrowers of credit institutions e.g Banks.
In the unfortunate event of the death of the member during the term of the policy, the outstanding loan amount would be repaid by the insurance company thus relieving the member’s family.
Benefits
- Eliminates the risk of loan default in the event of death
- Financial relief to the family
- Facilitate competitive pricing for the lender
- Cost-effective plan
- Convenient administrative and medical procedures
You may also be interested in...
Corporate
SACCO Credit Life Insurance
The insurance covers members of a SACCO with outstanding loans against death, total permanent disability, loss of income and critical illness.
Corporate
Group Funeral Expense
Planning for funerals requires a lot of cash, especially to offset bills.
Corporate
Group Life and Disability Assurance
This cover, available to organizations, provides a death benefit in the event of an employee’s death