FWD Life Insurance coverage Company (FWD Philippines) has launched Group Credit score Life Insurance coverage (GCLI), providing small monetary establishments safety from unpaid loans as a consequence of lack of life, important sickness or whole and everlasting incapacity of debtors.
Small lending establishments like thrift and rural banks, credit score and loan amenities, and different monetary establishments with at the very least 20 debtors could make use of GCLI, which has been designed to maintain their enterprise safe by offering loan and credit score safety.
The small lending establishment is assured of loan reimbursement within the occasion the borrower passes away, turns into completely and completely disabled or identified with any of the 5 lined important diseases – most cancers, stroke, renal or kidney failure, coronary artery bypass grafting and coronary heart assault.
On the similar time, debtors acquire monetary ease with a credit score life insurance coverage that protects their property from getting used to cowl unpaid loans, releasing their family members from monetary worries that might be left behind.
“If a borrower unexpectedly dies, is diagnosed with a critical illness or becomes permanently disabled, there can be no way for them to repay their outstanding loans. With this newest FWD Corporate Care solution, we do the job for them so that no matter what happens, neither the borrower nor their surviving family members have to worry about loan repayments,” FWD Philippines President and CEO Li Hao Zhuang mentioned.