Group Credit Life Assurance

Protect Borrowers. Build Trust. Strengthen Your Institution. 

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Group Credit Life Assurance

This cover ensures that if a borrower passes away before finishing their loan repayments, the remaining loan amount is paid off in full. That way, neither the borrower’s family nor your institution is left with the burden of unpaid debt. You can also add extra protection for more peace of mind and cover risks like disability, critical illness, retrenchment, or funeral expenses. 

  • Any unpaid loan amount in the event of the borrower’s passing
  • Permanent total disability if the borrower can no longer earn an income due to incapacities
  • Critical illness support
  • Retrenchment cover if the borrower unexpectedly loses their job
  • Last expense to help with funeral costs

All benefits are available round-the-clock — no matter what time of day an event happens.

Our Group Credit Life Assurance is ideal for financial institutions that extend credit to individuals or business owners. These include:

  • Commercial banks (of all tiers)
  • Microfinance institutions
  • SACCOs
  • Employer-run staff SACCOs

To give you an accurate proposal, we’ll ask for:

  • Monthly or annual loan disbursement data
  • Maximum loan term (tenure)
  • The interest rate charged
  • The maximum loan size for each client

Proactive Strategies to Mitigate Risk

Renew Policy Contact Us +256 781 254107

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