Benefits
- Help customer avoid the risk of liquidity shortage by stopping interest expense at difficult time. In the event of critical illness diagnosed, death or totally disability of the insured, the Insurer will pay claim to clear loan outstanding with bank, and remaining sum insured to beneficiary.
- Insurance premium can be used as company taxable expense in case insurance applicant is a Juristic Person.
Conditions
Borrower is Individuals
Insured person must be principal borrower and or co-borrower.
Borrower is Juristic Persons
Insured is Individual (Premium is paid by individual): The individual must be Executive Director or managing partner with authorize signatory or loan guarantor or shareholder with the shares 50% or more.
Insured is Juristic Person (Premium is paid by Juristic): The Juristic Person must choose the Insured who represent of Juristic Person with the following qualifications.
- Executive Director or managing partner with signatory authorized.
- Significant person to the insured such as the loan guarantor Or the shareholder with 20% or more shares.
- Key person with the significant duties and responsibilities to the business.
