At Jasmur Insurance Agency, we understand the risks that come with lending and the importance of protecting your institution against any unforeseen circumstances. This is why we recommend taking up Group Credit Life Insurance, which offers the following benefits:

• Coverage for unexpected events: Credit Life Insurance is designed to pay off a borrower’s debt if they pass away, become disabled, or are retrenched before the loan is fully repaid. This ensures that your institution is covered against any financial loss.
• Protects borrower’s families: The family of the deceased member gets to keep the asset/property that was financed by the borrowed funds even after the death of the borrower. This removes the strain of repaying loans by the families of the departed member.
• Economical coverage: The policy is purchased in bulk and group discounted, making it more affordable than individual insurance.
• Easy to implement: The policy is affected by the financier on the lives of the members to whom credit is being offered, making it easy to implement.

The following details are required to place cover:

• Debtors’ Names
• Date of Birth of the Borrower
• Type of loan
• Amount of Principal loan granted
• Repayment Period/ Duration of Loan (in months)
• Loan Start Date
• Interest Rate per annum charged on the Loan.

At Jasmur Insurance Agency, we specialize in assisting micro credit lenders to protect members’ funds through our expertise in advising and assisting organizations in taking up Group Credit Life Insurance. We recommend this cover to any lending institution that advances Mortgage loans, Personal loans, Instalment finance, Overdraft facilities, or Credit card facilities to protect your institution against unexpected events.