Credit Life

Credit Life provides cover for lending institutions against the death or total permanent disability of the borrower. This product ensures that the lending institution is not saddled with the challenge of pursuing the assets of deceased or disabled defaulters, but are reimbursed the outstanding loan amount by miLife
Who is this policy for?

Lending financial institutions that want to ensure that their loans are recouped even when the borrower becomes deceased or disabled.

Cover and Benefit

The policy covers deaths and total permanent disability of borrowers. The benefit cover is the loan amount and a lump sum payment of the outstanding loan amount will be made to the lending institution.

Interested in this policy? Have questions?

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