CREDIT INSURANCE
Target audience: Customers using unsecured consumer loan products at LOTTE Finance, are not subjected to the Insurer exclusions.
Insurance period: equal to the loan term at LOTTE Finance.
Sum insured: At least equal to the customer's loan amount at LOTTE Finance. (*)
WHY CREDIT INSURANCE?
Credit insurance will protect insurer against unforeseen risks leading to death or total permanent disablement. This insurance will help reduce the burden of debt for relatives because when there is a risk happens to the insured person under the scope of cover, the insurer will pay the loan balance to the Financial Entity, resulting in peace of mind for customers and their dependents.
SCOPE OF COVER / BENEFITS OF INSURANCE (*)
ᆞDeath due to accident
ᆞDeath due to illness or disease
ᆞTotal permanent Disablement due to accident
ᆞPartial Permanent Disablement due to illness or disease
(*) Partial Permanent Disablement due to illness or disease
PREMIUM
Premium: 5.5% x Loan amount / According to each product of LOTTE Finance periodically.
