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Group Creditor

Overview

It is the worry of every lender that a borrower may not repay their loan wholly because of death or disability.

Features

This policy comes in handy to protect the lender, dependants and guarantors against the risk of death or disability before full settlement of the advanced loan.

Benefits

  • Death: - In the event of death of a member while servicing a loan, Madison Insurance pays the outstanding loan as at the time of death.
  • Permanent & Total Disability: - In the event of a member becoming permanently and totally disabled while servicing a loan, Madison Insurance shall pay the outstanding loan balance as at the occurrence of such event.

FAQs

1.What are the quotations requirements?
For a quotation to be done, we need:-

  • List of members Dates of birth
  • Outstanding loan amounts & outstanding repayment period
  • Original amount of loan and each loan commence-date,

How do I get Started

  • Group Proposal form completed and signed by employer/Association
  • Individual member application forms together with copies of their Identity cards