Group Credit Life is a cost-effective solution designed specifically for lending institutions offering finance or credit.
It provides payment of an outstanding loan amount upon the death of an insured borrower during the term of the policy.
The sum assured for this contract reduces each year with repayments of the loan amount.
Scope of Coverage
Documents required for Onboarding
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Executed scheme proposal form
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Copy of certificate of incorporation/registration
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Copy of KRA PIN
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For business loans, the CR12 will be required
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Loanee data including full names, dates of birth, ID/passport numbers, loan amounts, loan periods and interest rates