Credit Life
We provide financial solutions for both debtors and creditors.
We believe that one should be remembered by his deeds and not by his debts. Our Credit Life products provide protection to you, whether you’re a lender or a borrower, against the possibility of an unpaid loan due to a borrower’s untimely death. With Credit Life, loans are paid, assets and possessions safeguarded and future earning power kept intact.
Q: What types of groups can avail of CL Prime?
A: Credit Life Prime is available to all types of creditor groups, especially those with specific requirements.
A: Credit Life Prime is available to all types of creditor groups, especially those with specific requirements.
Q: Who are eligible to enroll?
A: All Borrowers who are actively-at-work, in good health, able to perform the normal chores of life, and below age 65 may be covered.
A: All Borrowers who are actively-at-work, in good health, able to perform the normal chores of life, and below age 65 may be covered.
Q: What is the minimum amount of borrowers?
A: A group should have at least five eligible borrowers to be a valid group.
A: A group should have at least five eligible borrowers to be a valid group.
Q: How much coverage can insureds avail of?
A: Minimum amount of loan to be insured could be as low as P1,000 per month. Max coverages are open for discussion.
A: Minimum amount of loan to be insured could be as low as P1,000 per month. Max coverages are open for discussion.
Q: What do I need to submit to receive a proposal?
A: Please submit an accomplished Credit Life Survey Sheet to our Corporate Account Officer so we can prepare a proposal for you.
A: Please submit an accomplished Credit Life Survey Sheet to our Corporate Account Officer so we can prepare a proposal for you.
Q: Once I find the proposal acceptable, what are the requirements before borrowers can be insured?
A:
A:
- Credit Life Survey sheet showing the initial list of individuals to be insured:
- Name of Borrower
- Date of Birth
- Loan Amount
You may ask your Philam Life Corporate Account Officer for a copy of the Survey Sheet.
- Proof of good health may be required from enrollees. Coverage will take effect only upon approval of proof of good health submitted.
- Group Application Form
- Premium payment
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TumugonBurahinRegards,
HCBL Bank - Tathastu