Creditor Insurance is an insurance contract that allows for the repayment of a loan in the event that the insured is unable to pay due to a long-term disability, a critical illness or an untimely death.
- Life Creditor insurance is available in different term duration and coverage can be level or decreasing
- Disability Creditor insurance will cover the loan payment amount outstanding at time of claim
- Critical Illness Creditor insurance is available in different term duration
Creditor Insurance can be used in the following instances:
- To repay a mortgage
- To repay a personal loan
- To repay a line of credit