Credit Life Assurance Plan

Product Description

Credit life insurance is designed to protect financial institutions against non-repayment of loans as a result of death, disability or Loss of Job of short to medium term borrowers.
It also serves the purpose of protecting customers’ dependent’s from the financial consequences of untimely death while there is an outstanding loan against him (the customer).
Should death occur, the financial institution recoups its loan from the Capital Express Assurance Limited and avoids the awkward situation of asset repossession.
Similarly, customer’s dependents keep the asset in the family thereby reducing the agony of breadwinner’s untimely death.

Key Features

  • Cover can be arranged for a maximum of 2 years.
  • If the age next birthday of a proposer is above 55years the proposer would need to go for medical.
  • The benefit payable will be the outstanding loan as at the date of loss
  • Premium is expected to be paid as a lump sum
  • Policy does not cover default in loan repayment.


  • Cover extendable to permanent disability and critical illnesses
  • A convenient and stress-free way to acquire assets
  • Reduces credit exposure.