Overview
CreditPlus is designed primarily for micro finance Institutions who provide loans to individuals in the rural and semi urban areas, providing protection through:
- Mitigating the financial losses that may occur in the event of the untimely death of your members
- Financial security for the families of the members, in addition to loan protection.
- Specifications
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Master Policyholder: Micro financial institution
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Entry age: Any member between the age of 18 and 50-55 years (depending upon the group profile).
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Policy Term: 1 year; renewable every year
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Premium Payment Frequency: Annually, half yearly, quarterly or monthly
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Annual Premium: Dependent on the size of member group, their age, their occupations and the outstanding balances
- What will the member get?
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Death Benefit
- Financial security for the families of the members, in addition to loan protection.
- What is the institution going to get?
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The loan given to a member by the master policyholder is secure incase of the death of the member
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