Credit Life

We have the perfect plan to fit any insurance need you may have. Click on the relevant link below to find the plan that is right for you.

• To ensure that the outstanding credit card balance your customers have is covered in case of their unfortunate demise, see Group Credit Card Term Insurance Protection Plan & Credit Shield Plus.

• If you want to cover your employees or customers against the risk of serious illnesses, see Group Health Plus.

• Get a comprehensive life insurance cover with double insurance benefit in case of Accidental Death, see Group Life Protector Plus.

• To ensure the mortgage obligations of your customers are covered in case of their unfortunate demise, see Group Single Premium Mortgage Reducing Term Insurance Plan / Group Regular Premium Mortgage Reducing Term Insurance Plan .

• To ensure that the short term or unsecured loan obligations of your customers are covered in case of their unfortunate demise, see Group Single Premium Personal Loan Reducing Term Insurance Protection Plan / Group Regular Premium Personal Loan Reducing Term Insurance Protection Plan.

Flexibility

The credit life insurance programs can be tailor made to meet the unique features of the lender’s loan portfolio.

Program design will depend on various factors including the following:

• Group size
• Total loan portfolio
• Maximum coverage amount required
• Age distribution of borrowers
• Coverage Amount: It could be level or reducing, usually adhering to the loan repayment pattern
• Premium Rate: It can be any one of the following - age specific, age banded or common rate depending upon the nature of the loan obligation
• Premium mode: Choices of Premium Payment Method/Frequency can be opted to meet lender’s system and manpower support

The Advantages of Group Credit Insurance

For the Lender

• A tool to attract and retain loyal customers
• Eliminates the burden of debt collection if the default of payment is caused by the death or disability of the borrower
• Product differential in an increasingly competitive market

For the Borrower

• Peace of Mind
• Emergency aid to cover debt in the event of misfortune
• Saves time and effort in arranging individual insurance

Tax Benefits

• You are eligible for Tax benefit as per the current tax laws.