The Custodian Group Credit Life policy covers the following:
Benefits of the Policy
- Death: The policy covers death of the borrower within the cover period and the future outstanding principal of the borrower will be paid on death of the borrower starting from the time of death.
- Permanent Disability By Accident: The policy covers total permanent disablement of the borrower as a result of accident within the cover period and the future outstanding principal of the borrower will be paid on total permanent disablement of the borrower starting from the time of disability.
- Permanent Disability By illness: The policy covers total permanent disablement of the borrower as a result of any of the illnesses agreed in the policy within the cover period and the future outstanding principal of the borrower will be paid on total permanent disablement of the borrower starting from the time of disability. This does not include pre-existing conditions
- Loss of Job (optional): The policy covers loss of job of the borrower within the cover period. This rider has a waiting period of three month during which no benefit is payable.