Empowering people to live financially secure.
Authorised and Regulated by the National Insurance Commission (NAICOM) RIC 042
Still Have Questions?
We're here to help, for inquiries contact us here
Empowering people to live financially secure.
Authorised and Regulated by the National Insurance Commission (NAICOM) RIC 042
Still Have Questions?
We're here to help, for inquiries contact us here
Back
Plans /
Credit Life Insurance
Provides cover for loans granted to Borrowers/mortgagors of a lending institution. It repays the outstanding balance of a loan in the event that the debtor dies or becomes permanently disabled before the loan is fully repaid.
Credit Life Assurance provides cover for loans granted to Borrowers/Mortgagors of a lending institution. It repays the outstanding balance of a loan if the debtor dies or becomes permanently disabled before the loan is fully repaid.
In the event of death/disability, the lending institution will be paid the outstanding amount that is owed by the customer.
In addition, it provides a strengthening of the value proposition to your customers in that, by taking the proposed cover, the borrower and his/her family will not suffer the loss of the financed asset in the event of death or disability. On this basis, the lending institution may very well recover the premium for this cover from the client as part of the initial financing transaction.
Permanent Disability
The permanent disability rider component provides for payment of the benefit amount as a lump sum in the event of the life assured becoming permanently disabled.
Critical Illness Benefits
The Critical Illness benefit provides a lump sum benefit that will be paid to a member if he/she is diagnosed as suffering from a listed Critical Illness. The Critical Illness benefit is designed to assist with the payment of expensive medical treatment needed for a member to survive or to be rehabilitated from a Critical Illness.
Keyman Assurance is designed to protect a lending institution in the event of an untimely death/permanent disability of the key staff of a borrowing company. This would be especially useful for the corporate leases that are provided to small/medium-scale organizations.
The cover is taken on the life of the Key Individual(s), whose sudden death would directly affect the operations and financial standing of the borrower/company and its ability to service the loan obligation.
TANGERINE LIFE INSURANCE IS NDPR AUDIT COMPLIANT 2024