What is Credit Insurance?
What is Credit Insurance and what coverages does it offer? It is not possible to foresee what developments life and days may bring. You can take various precautions so that your debt does not fall on your loved ones when you cannot pay your loans due to possible accidents or death. Fiba Sigorta offers different precaution packages in this regard. For example;
1 - Death Coverage: In case of death, the remaining insurance indemnity amount is transferred to the beneficiaries specified in the policy when the credit life insurance death occurs and the loan is paid off.
2 - Disability Due to Accident Coverage: The insurance company pays the insured as a permanent disability indemnity according to the disability rates chart in case of disability (permanent) due to an accident within the insurance period or within two years.
3 - Involuntary Unemployment / Daily Hospitalization Coverage: For salaried employees, this is a monthly benefit payment in case of unemployment, until the unemployment ends. It is paid a maximum of 18 times during the total insurance period. To be eligible for unemployment benefit, you must have been employed for at least 90 days from the start of the insurance, and if you are unemployed, you must have been unemployed for at least 30 days.
What Situations are Not Covered by Credit Insurance?
Unemployment arising from the following situations is excluded from unemployment coverage: If you are not within the scope of those receiving unemployment benefits from the Turkish Employment Agency, if the insured knew they would be unemployed, if the insured was working in a seasonal job, if the insured was working in fixed-term projects that are ending, if they voluntarily became unemployed or resigned, if they were dismissed due to their fault or crime, if they became unemployed due to lockout or strike, if there are situations of war, rebellion, disaster, terrorist acts, no payment is made. If you are between 18-65 years old and have taken a loan from any bank, you can benefit from Fiba Sigorta Credit Life Insurance. You can find the necessary details on their online website.
