CreditPlus

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

  • Master Policyholder: Micro financial institution
  • Entry age: Any member between the age of 18 and 50-55 years (depending upon the group profile).
  • Policy Term: 1 year; renewable every year
  • Premium Payment Frequency: Annually, half yearly, quarterly or monthly
  • Annual Premium: Dependent on the size of member group, their age, their occupations and the outstanding balances

What will the member get?

Death Benefit

  • Financial security for the families of the members, in addition to loan protection.

What is the institution going to get?

The loan given to a member by the master policyholder is secure incase of the death of the member

 

Download Brochure  Terms and Conditions  Policy Schedule

 

UIN: 122N009V02

Advt No: sep 61/16