life

Group Credit Assurance Policy

Riders

Last Expense (Funeral) Rider

The benefit under this rider is for the benefit of the mortgagers’ dependants and is not related to the
loan granted. The benefit is payable within 48 hours of official notification and satisfactory proof of
death.

Permanent Disability rider

This rider provides for the payment of the full loan balance if the mortgager becomes permanently
disabled due to sickness or disease.

Critical Illness Rider

This cover prepays 30% of the Sum Assured up to a maximum of the agreed amount under the scheme if
the Life Assured suffers from the diseases listed under the policy during the term of the policy.

  • Covers loans on a reducing balance or on declaration basis
  • Premium based on total outstanding loan, loan term and age of loanee.
  • Provides cover to joint borrower on a first death basis
  • Premium paid covers loan for the whole repayment duration.
  • The Policy is not subject to an AIDS Exclusion clause.

Cover is open to members aged between 18 to 65 years