Credit Life Insurance
The purpose of the Credit Life Insurance by PROSUR Micro-Insurance is to provide all customers who acquired loans from a financial institution protection when the customer suffers from a permanent disability or death due to an accident or, death due to diseases or illnesses. This means that the client's credit will be secure for a fixed period of time. PROSUR will be providing a payment to the family members of the victim so they will not be held responsible for the victims acquired loans.
Credit Life Insurance of PROSUR Micro-Insurance Plc. provides the insured with considerable advantage through benefits and compensation as follows:
- Financial Stability: Purchasing the Credit Life Insurance from PROSUR protects the family’s livelihood. The future of the family will be secured with a peaceful mind because there is no need to sell assets to pay off loans in the family in the case of the borrower’s death or permanent disability.
- Risk Transfer: Transfer the risk of financial loss from the family to PROSUR Micro-Insurance.
Keep a primary income earner (breadwinner) secured: The primary income earner (breadwinner) is the prior person to be secured.
III. Insurance Conditions
The following conditions are eligible for Credit Life Insurance:
1. A borrower or co-borrower of a financial institution that is a partner of PROSUR.
2. An adult with age of maturity (18 to 65 years old) without having to conduct pre-insurance medical checkup
3. Mental competence, not a person who is hospitalized in a psychiatric hospital
4. Hold any valid identification such as Khmer National ID Card, Family Book, Certificate of Birth, Certificate of Accommodation, or any equivalent documents, etc.
5. Able to register for insurance services from Prosur Micro-Insurance Plc. individually or as a group (one borrower or with a co-borrower).
6. The benefit (payment) amount shall not exceed the original loan (principal) amount borrowed from the financial institution.
7. The duration of the warranty shall be equal to the period of loan from the financial institution, not exceeding one (1) year or renewing one year at a time (applies to loans exceeding one (1) year).
IV. Claim Procedure and Documents Required:
- PROSUR claim form, duly filled in by a claimant, affix thumbprint signature
- original certificates and records regarding the treatment at hospital.
- A copy of valid ID card of the insured and claimant
- Insurance certificate provided by Prosur.
- Accident report from the police or the local authorities (only for accidents)
- Certified true copy of death certificate
- Payment schedule and loan contract from the financial institution.
- A certificate of debt issued by a Branch Manager of the relevant financial institution.
The claim shall be completed within 7 working days after receiving all relevant documents. The coverage policy will end after the claim is finished.
- IV. Additional Information
For any information regarding our services, please kindly contact us through our hotline numbers: (069 73 1111 / 017 777 891).