Credit Life Takaful Plan

Credit Life Insurance Plan is a protection plan specifically designed to repay mortgage debt in the event of death or disability of the borrower predominantly for banks and financial institutions offering personal loans, credit cards and mortgage plans where the borrower is unable to meet the contractual obligation thereby protecting the mortgage lender.

In the event that a borrower dies or disabled, the outstanding loan is paid off and the payment is made directly to the loan provider. The cost of the cover can be levied by the loan provider as part of the loan repayment.

Each Credit Life Insurance Plan Agreement can be tailored to match the customer base.