This insurance product is designed to offer coverage if a defined event such as death or diagnosis of a covered critical illness, permanent disability or dismemberment occurs. The insurance can pay off your outstanding personal loan, relieving your loved ones of added financial pressure.
With Life Protection, your outstanding loan balance will be paid off up to the policy maximum* if you die. With Health Crisis Protection, your outstanding loan balance is paid up to the policy maximum* if you are diagnosed with a covered critical illness, permanent disability or dismemberment.
Credit Insurance for Personal Loans can cover both the borrower and the co-borrower if joint coverage is elected, so customers don’t have to worry about leaving someone else with the burden of repaying a loan – or being the one left behind to shoulder the payments.
Insurance is underwritten by GK Life Insurance EC..