Credit Protection Plan
Term
Sum assured
On request
Premium / yr
On request
Term
—
Entry age
—
About this plan
Credit Protection Plan is a non-profit participating life insurance plan designed to protect borrowers and lenders from outstanding loan obligations. This product is offered to banks, MFIs, cooperatives, finance companies or other institutions in conjunction with consumer credit. If the borrower cannot repay because of certain specified events, Sun Nepal Life pays the lending institution the outstanding loan.
What's included
Key highlights
- Protects outstanding loan — reduces default risk
- Institutional / group insurance solution
Features
- Protects borrower and lender against outstanding loan obligations
- Designed for banks, MFIs, cooperatives and finance companies
- Pays lending institution if borrower cannot repay due to specified events
- Non-profit participating institutional/group cover
- Offered as institutional (group) credit insurance
Benefits payout
- Death benefit
- Outstanding loan balance payable to the lending institution
Optional riders
Accidental death (ADB)PTD / PWBCritical illness (CI)
No optional riders are attached to this plan.
Loan & liquidity
- Policy loan
- Not available
Other plans from Sun Nepal Life Insurance
Premium
Quote on request