Product Features

Who should take this policy?

Insured – Anyone from the age of 18 to 62 and the insured can be a long term borrower/debtor from a bank/financial institution.

Things that are assured

The following accidental risks are covered for the insured under this policy during the policy term.

• Death
• Total Permanent Disability
• Surrender Value

Exclusion Clauses

• Total permanent disability, and death due to self-inflicted injuries
• Total permanent disability, and death due to Suicide
• Total permanent disability, and death due to drug use or drug abuse
• Total permanent disability, and death results from intoxication by drugs not prescribed by a doctor
• Total permanent disability, and death due to the criminal commitment
• Total permanent disability, and death due to the pre-existing disease that were not disclosed when purchasing the insurance.

Who can purchase this insurance?

Policy Owner - An individual or a legal entity (who will become the policyholder) has the insurable interest with the insured and the mutual agreement between them.

Benefits

Death

In case of death during the policy term, the sum insured amount at the time of the death of the insured is payable.

Total and Permanent Disability

In case of total permanent disability and being unable to work at all during the policy term, the sum insured amount at the time of the total permanent disability of the insured is payable.
(The benefits will only be payable to the respective Bank/Financial Institution.)

Surrender Value

After the loan amount is fully repaid to the Banks or Financial Institutions, the policy owner can claim the remaining surrender value.

Endorsements

If the insured would like to make changes for the following instances within the policy term, please inform KBZ LIFE Offices or KBZ LIFE agents for the endorsement. For instance-

• • Beneficiary endorsement
• • Changes in information (Address, Phone, Email, etc.)

How to purchase this insurance?

If you want to purchase this Single Premium Credit Life Insurance policy, please contact either the KBZ LIFE staff and the KBZ LIFE Insurance agent or online and the following procedures are required:

• (1) Fill proposal
• (2) Inspecting the employee’s documents
• (3) Inspecting the medical evidences
• (4) Premium payment
• (5) Issuance of the protocol (receipt) / policy agreement as acceptance of the request

If required, our KBZ LIFE and our agents are ready to provide service. You can contact any agent and KBZ LIFE. The representative will follow through until the insurance end.

How to claim for the compensation?

If you encounter an unexpected event, please send it to us.

• • If the insured has died or became total permanent disabled person during the term of the insurance, you only have to notify us immediately. The KBZ Life Office or KBZ Life representative or KBZ Life staff will assist you with any issues that may encounter in the process of compensation.
• • Please provide us required medical evidences, documents and proves.

KBZ LIFE will provide assistance to claim compensation.