CRDB Microfinance Services Ltd: Credit Life Assurance:

Credit Life Assurance:

This insurance is taken by MFI to cover its loan portfolio against losses in the event of death, permanent disability or impairing sickness by a borrower.

Targeted Clients:

All Affiliate Microfinance Institutions.

Benefits (To MFI)

  • Covers all loans issued by MFI and thus it stands to be reimbursed the outstanding loan amount in the event of borrower’s death, permanent disability or impairing sickness.
  • The MFI can loan out more in the knowledge that some risk has been reduced
  • Affordable premium rate.

Benefits (to Borrowers)

  • Peace of mind: Borrowers are at peace in the knowledge that their loan obligations will end in the event of their death, permanent disability or impairing sickness.
  • Funeral expense contribution: The Insurer will contribute to funeral expenses of a deceased borrower’s funeral.
  • Affordable Premiums

For more information, contact a nearest CRDB Bank branch

Last Updated: Tuesday, 01 June, 2010