Credit Insurance

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This product line protects the interest of the lending company if the borrower may not be able to repay his/her loan. The insurance company shall pay the unpaid balance of the loan to the lending company upon death of the borrower due to accident, illness/disease, or murder, and the balance(amount paid/repaid by the borrower if any, shall be paid to his/her beneficiary.


– There were two types of computing the chargeable premiums: a) single payment: premium is computed based on the original loan amount upon release and renewed on a year to year basis until loan has been paid. b) diminishing: premium is paid based on diminishing balance annually.


– Health Condition Requirement:   Normally, borrowers will be required to submit health records and/or medical exams, premium quotes may be standard, sub-standard, or declined.