The MSV Group Credit Life Plan is an annually renewable group life insurance protection plan for banks, financial institutions and finance companies offering small personal loans, credit cards, hire purchase and consumer credits. In the event that the customer dies, the loan or outstanding balance is paid off and the payment is made directly to the bank, financial institution or finance company as a tax-free lump sum payment.
- The Plan ensures that any outstanding loan is paid off in the event of the untimely death of the customer.
- Group life protection is cheaper than individual plans.
- The Plan can be bundled to add value to your own products and services to make them more competitive.
- Cover up to €75,000 any one customer.
- Cover for all customers is provided under one document.
- Simple to administer.
- The cost of cover can be levied by the loan provider as part of the loan repayment.
- Payment of the death benefit is made directly to the bank, financial institution or finance company.
- We design each Plan with you to ensure that the benefits and cover meets your exact requirements.