Max New York Life offers Group Credit Life plan, which provides life cover for a group of employees who are borrowers from the same employer, (or some credit institution, bank, finance provider etc.) by paying a lump sum towards repayment of loan amount on the death of employee. The premiums can also be familiar every year according to the reducing loan balance amount. This plan will make sure that customers have the preferred freedom to enjoy a hassle-free life without having to worry about the repayment of the loans.
Features –
The insurance plan can be easily structured in a way such that the entire loan amount or the balance loan amount is paid up in case of the ill-timed demise of the borrower. The premiums can also be adjusted every year according to the reducing loan balance amount.
Key Benefits –
This plan provides total peace of mind because in case of an ill-timed demise of the borrower, the family is not burdened with the loan.
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