The Alliance Group Credit Life Insurance covers loans advanced to borrowers. This may be by employers or financial institutions. In case of death or disability of the borrower, the cover pays the outstanding loan at the time of death to the lender, thus avoiding the often long recovery procedures or writing off the loans as bad debts. It also provides peace of mind to the beneficiaries of the borrowers, as there is no possibility of financial recovery in case of death or disability.
TYPES OF BENEFITS OF ALLIANCE LIFE GROUP LIFE ASSURANCE
(SME, Personal, Unsecured & Overdraft Loans)
TYPES OF BENEFITS OF ALLIANCE LIFE GROUP LIFE ASSURANCE
(SME, Personal, Unsecured & Overdraft Loans)
- Death Benefit
- In case of Death of a borrower, Alliance Life shall pay the outstanding loan amount plus due interest.
- Funeral Benefit (Principal Member)
- A lump sum payment to help the family with burial arrangement expenses
- Funeral Benefit (Spouse)
- A lump sum payment to help the family with burial arrangement expenses
- Total Permanent Disability (TPD) Benefit
- In case of Total Permanent Disability (TPD) of the borrower, Alliance Life shall pay the outstanding loan amount plus due interest after receiving all the claim documents
How can I help you? 
