Creditor's Group Life
Creditor's Group Life protects institutions such as banks, savings and loan associations, credit cooperatives, and other lending companies from financial loss in the event of death of its borrowers, while there are unpaid loans. It helps businesses stay afloat and ensures financial security for both companies and the borrower’s family.
It comes with flexible terms that offer your company the option to either insure the initial amount of loan or the outstanding balance of loan.
- Covers your company and your employees with life insurance protection that takes effect twenty-four hours a day with no geographical limitations
- Pays your company the insurance benefits in case of natural or accidental death of a borrower
- Provides sound management of financial risk for both your business and for your borrowers
Moreover, Creditor’s Group Life may be enhanced by a supplemental benefit that will cover the risk of total and permanent disability of a borrower.