What Does Credit Life Insurance Cover

Our Credit Life Insurance policies can provide protection against eligible loan obligations following covered events such as death or Permanent Total Disability.

Death Due to Accident or Illness

Provides a benefit if the insured dies due to a covered accident or illness during the policy period. The benefit can help settle the outstanding loan amount directly with the bank or financial institution, subject to the policy terms.

Permanent Total Disability

Provides coverage for Permanent Total Disability caused by an accident or sickness, helping address the outstanding loan obligation when the insured meets the policy's definition of Permanent Total Disability.

Personal Loans

Credit Life Insurance can cover eligible personal loans, helping protect the outstanding balance against covered events during the policy period.

Housing Loans and Mortgages

Coverage may be available for housing loans and mortgages, with the insurance benefit generally based on the outstanding loan balance.

Motor and Car Loans

Eligible motor and car loans can also be covered, helping reduce the financial impact of an outstanding vehicle loan following a covered event.

Other Eligible Loans

Depending on the insurer and selected plan, Credit Life Insurance may also cover other eligible loans from licensed financial institutions.

The insurance benefit is generally based on the outstanding loan balance and is paid directly to the bank or financial institution. Coverage is subject to the selected insurer's policy terms, conditions, limits, and exclusions.

Protection for Different Types of Loans

• Personal loans
• Housing loans and mortgages
• Motor and car loans
• Business financing
• Other eligible loans from licensed financial institutions

Additional Benefits with Tameen.om

• Permanent Partial Disability
• Accidental Death Benefit
• Critical Illness cover
• Passive War cover
• Early loan settlement premium refund
• Flexible policy tenure aligned with the loan period

Who Needs Credit Life Insurance

• Individuals taking personal loans
• Homebuyers with housing loans or mortgages
• Individuals financing a vehicle
• Business owners taking eligible business financing
• Borrowers with other eligible loans
• Anyone whose family could be affected by outstanding financial commitments