Credit Protection (Loan) Life Insurance
Why You Need It
Credit Protection Insurance (also called Loan Life Insurance) ensures that if something happens to you—like death or total and permanent disability—your outstanding loan is settled without burdening your loved ones or affecting their financial stability.
Key Benefits
- Debt Safety for Your Loved Ones: Your family won’t be left with your unpaid debts.
- Peace of Mind: Continue to focus on your family and future—not your outstanding loans.
- No Credit Impact: Your loan repayments remain current, preserving your credit score and financial reputation.
- Cost-Effective Protection: Often available as a small, affordable premium added to your loan payments.
Who Should Consider It
- Borrowers with personal, home, or vehicle loans.
- Families who rely on the borrower’s income.
- Anyone who wants to ensure financial obligations are covered in case of unforeseen life events.
Coverage Options
- Death Benefit: Penalty-free settlement of the remaining loan amount.
- Total & Permanent Disability (TPD): Covers the balance if you’re unable to work due to serious disability.
- Optional Critical Illness (if applicable): Coverage in case of life-altering illness before you’re incapacitated.
How It Works
- Select the loan and the amount to be covered.
- Pay an additional premium.
- In the event of a claim, Imperial Insurance directly pays off the outstanding loan.
- Your family is protected—from the loan, not the lifestyle.
Why Choose Us
- Seamless Claim Process: Straightforward claims so your family is cared for when it matters most.
- Flexible Options: Tailor the protection to your loan type and repayment duration.
- Value-Added Service: Consolidated with other “For Individuals” services—simplicity, convenience, and trust.
FAQ
What would you like to know?
Borrowers with personal, home, or vehicle loans, families who rely on the borrower’s income, or anyone who wants to ensure financial obligations are covered in case of unforeseen life events.
It covers death, total and permanent disability (TPD), and optional critical illness, ensuring the loan balance is settled without burdening your loved ones.
Select the loan and amount to be covered, pay an additional premium, and in the event of a claim, Imperial Insurance directly pays off the outstanding loan.
No—loan repayments remain current, preserving your credit score and financial reputation.
