Loan Secure
An affordable package plan that offers financial protection for rural banks and for other small to medium lending institutions in case of borrowers’ untimely death.
Why should you get it?
-
Protection from death of borrower with unpaid loans In the event that the insured borrower dies, the amount of insurance will be paid to the lending company to pay off the outstanding loan. Terms and conditions apply.
-
No underwriting required Automatic approval of insurance coverage for borrowers with loan amount of 300,000 and below.
-
Flexible service fee Service fee for your company may vary based on your preference.
-
Additional protection for employees FREE insurance coverage for the employees of your company for a minimum of 70 enrolled borrowers with total loan volume of 3,000,000. Terms and conditions apply.
Optional benefits
-
Comprehensive accident protection Secured payment for loans in case an insured borrower becomes disabled or suffers loss of body parts due to an accident. In the event the borrower dies because of an accident, the beneficiaries will receive an additional insurance benefit.
-
Total and permanent disability benefit (TPD) The borrower will be paid a lump sum amount equivalent to the death benefit if the borrower becomes totally and permanently disabled for six (6) consecutive months, and is unable to work or will be unable to work for life due to disability.
Who are eligible for this program?
- Borrowers ages 18 to 64 years old who secured loans from rural banks, lending companies, and cooperatives
- Groups of at least 10 debtors
Want to learn more about Loan Secure?