Credit Life Policy

1. What does credit life insurance policy cover?

Credit life insurance is a type of life insurance designed to pay off a borrower's outstanding debts if the policyholder dies. The cover is meant to protect the lending institution and the borrower against consequences of unexpected death, disability or even loss of employment of the borrower. This ensures that the lending institution gets paid for any outstanding loan and the family of the borrower is not exposed to unexpected financial burdens.

2. Why do I need credit life insurance policy?

You need a credit life insurance policy to ensure that your loan payments are covered in case of your death, protecting your family from unexpected financial burdens.

3. What are the benefits Credit life insurance Policy?

A credit life insurance policy ensures that you are not leaving behind debt for your loved ones to handle in the event of your untimely death. While there is no payout or death benefit to your beneficiaries, credit life Insurance takes care of outstanding financial obligations.

4.What document will I get after buying credit life insurance cover?

After buying credit life insurance cover, you will receive a policy document which is a written contract of insurance between the insured and the insurer. It contains terms and conditions of the insurance cover as well as the risks covered. Ensure you read and understand the contents of your policy document.