Credit Life Insurance

What does this insurance provide?

Credit Life Insurance covers for the life loss of the insured for natural or accidental causes, with no territorial restrictions. This is a product that provides for a financial guarantee for both the person, whose life is insured, and also for the bank or the financial institution, as the beneficiary, which in the case of death of the insured person reimburses an indemnity from the insurance company to cover for the remained loan principal amount.