Group Credit Insurance


Group Credit Insurance

Group Credit Insurance

An insurance product called the Group Credit Cover is designed to shield banks against the possibility of loan defaults brought on by the demise or total disability of insured account holders.

Benefits of Group Credit Insurance

This policy protects lenders, including banks and microfinance organisations, against the danger of losing money in the event that borrowers experience a handicap or a fatality, making it difficult for the borrowers to fulfil their responsibility to repay the lender.

  • Credit Life benefit

  • Critical Illness Cover

  • Retrenchment Cover

What Is Included in Group Credit Insurance ? 

This cover also protects the family of the borrower from incurring an unplanned debt above their grief.   

Frequently Asked Questions

– Visit the Services page on the website and click on “Sign Up.”

– You will be redirected to an insurance calculator page to find your appropriate cover on clicking.

– Enter your personal information like your name, date of birth, phone number and click the “Calculate Now” button.

– By submitting the details and verification, the insurer representatives will contact you through phone or any other mode. You can choose your benefits and get a quote.

– Once you have finalized the benefits under the insurance plan, pay the premium, and fill the additional details.

– After filling the form, submit the relevant documents required to complete the online insurance purchase process.

– General insurance – further classified as health insurance, motor insurance, home insurance, fire insurance, and travel insurance.

– Life insurance – also categorized as term life insurance, whole life insurance, endowment plans, unit-linked plans, child plans, and pension plans.

While buying online insurance, you are directly purchasing from the insurer, eliminating any intermediaries in between. Since all your data is kept confidential on their secured servers, and your premiums are paid through secured payment gateways, it is safe to buy online insurance plans.

Also, you can be assured of your money going to the safe hands.

Next time you seek to buy an insurance plan, you know that purchasing it online can save your money and time. The following are the benefits of buying online insurance plans:

– Cost savings with a lower premium

– Calculate the amount of premium payable for desired term insurance coverage

– Easy comparison of different plans with different insurers

– Easy to purchase within a few clicks

– Simple documentation and fast processing

– Transparency

What are the benefits of online insurance?