Credit Life / Credit Shield Insurance is designed to provide a financial institution with protection against failure of its customers to pay their debts or credit card payments due to their untimely death or disability.
While this policy protects the financial institutions from suffering losses due to unrecoverable debts or having to resort to legal proceedings to recover money owed to them from the deceased's family members, it also provides peace of mind to the borrower that in case of his/her death the burden of debt repayment shall not be passed over to his/her dependents.
In addition to the basic death cover we offer following optional benefits.
- Permanent Total disability due to accident.
- Accidental death and Permanent total disability as "Top-up Cover".
- Involuntary loss of employment.
- Critical illness
- In-hospitalization treatment in case of accident.
For more details on Group Life Insurance, please do not hesitate to e-mail Mr. Selvan Raman or call 04-2531567.