Credit Life Insurance
Those applying for consumer loans can be covered by this type of insurance.
Advantages for the banks:
- Protection of financial assets
- Provision of guarantee services
Advantages for the customers:
- Loan obligation fulfillment
- Eligibility for a payout if an insured event occurs.
Terms
203 KBConditions
69 KBSığorta təminatı
- Death of the insured
- Disability determination for the insured due to 31-60 percent loss of bodily function caused by illness or accident
- Disability determination for the insured due to 61-80 percent loss of bodily function caused by illness or accident
- Disability determination for the insured due to 81-100 percent loss of bodily function caused by illness or accident
For further details on the relevant insurance product, contact us at (012) 942.
Kredit Həyat Sığortası üzrə kalkulyator
Kredit məbləği
Kredit müddəti
Kredit faizi
Doğum tarixi
Müştərinin cinsi
Sığorta məbləği
{{calcResponse}} AZN
TTK üzrə kalkulyator
Kredit məbləği AZN
Sığorta haqqı
{{insure}}Sığorta məbləği
{{insure_all}}
This product was designed in line with the "Regulation on insurance of borrower's life against death and loss of capacity for work under loan agreements", as approved by the Decision of the Central Bank of the Republic of Azerbaijan No. 20/4 dated on May 16, 2024.
Credit life insurance
What is the life credit insurance? Credit life insurance is a product that protects consumer loan borrowers in the event of death and disability. Credit life insurance provides a range of benefits. Credit life insurance has a range of significant benefits for the borrowers. - Loan obligation fulfillment: In the case of death or disability, credit life insurance alleviates the financial burden on borrowers and their families, ensuring the payment of outstanding loan obligations. Payout in case an insured event occurs: Credit life insurance assures borrowers that their loan payments will be covered in case of an insured event like death or disability. Overall, the credit life insurance functions as an essential risk management solution for borrowers and lending institutions. It provides both financial protection and comfort.
Credit life insurance coverage
- Death of the insured: In case of the insured’s death within the loan term, the insurance company covers their unpaid loan liabilities.
- First-degree bodily function impairment: If the insured faces first-degree disability as a result of an accident or illness.
- Second-degree bodily function impairment: If the insured faces second-degree disability as a result of an accident or illness.
- Third-degree bodily function impairment: If the insured faces third-degree disability as a result of an accident or illness.
Term of the credit life insurance
The term for the credit life insurance coverage is adjusted according to the loan term, ensuring protection for borrowers' loans for the full duration. This type of coverage ensures convenience and financial protection for individuals. Overall, the credit life insurance coverage provides essential protection against unexpected situations, helping borrowers and their families avoid financial strain during difficult life moments.