This is a policy that protects the Loan book of the lending institution. Under this scheme, Prudential covers the life of the borrower in that should he/she pass on from an Accident or natural cause, Prudential pays the entire outstanding loan balance plus interest as of that time.
Download our brochure for Credit Assurance below.
What is Credit Assurance ?
Credit life is a form of short-term protection that covers the loan payment of the policyholder/borrower in the event of their death or permanent disability. The policy pays off the outstanding loan balance(including interest) in the event of a claim, thereby saving the family from the burden of repaying the loan.
Loan Book Protection
The Lending Institution’s Loan book is protected from defaulter.
Protects assets from repossession by the lending Financial Institution
Funeral Death Benefits
The borrower’s family is supported with last funeral expenses in case of his/her death
Peace Of Mind
Peace of mind for both Financial Institution and borrower
Good Lending Reputation
A good reputation for the lending Institution
Key features of Life Policy – Credit Assurance Features
Documents Required to apply for the policy?
Group Life Insurance Frequently Asked Questions
Group life insurance can give your employees the financial security they need.
As an employer it is important to consider how you might deal with the death of an employee and how you would support the bereaved family. Being able to be there for your employees and your employee’s family in their time of need is the right thing to do.
Critical Illness – compensation in case of contracting a critical condition as described in the policy
Funeral Expenses – expenses for a decent send-off
Hospital Cash Plan – daily allowance for every night spent in hospital