Credit Life Insurance – Credit Life Insurance provides essential protection by ensuring that, in the unfortunate event of the borrower’s death or disability, the outstanding loan amount is covered by the insurance company. This coverage lifts the financial burden from your loved ones and helps safeguard their financial future.

Key Terms:

• Insurance Period: Valid until the maturity date of the loan agreement
• Insurance Amount: Equal to the total loan amount
• Insurance Premium Payment: Available as a one-time payment
• Insurance Payout:
  • In the event of death: 100% of the outstanding loan balance as of the date of the incident is paid
  • In the event of disability: A payout is made based on the degree of disability, as determined by the authorized medical authority

By choosing “Credit Life Insurance”, you are taking a responsible step toward protecting both yourself and your family from unexpected financial hardship.