About Credit Life Insurance Cover

CREDITLIFE INSURANCE COVER This cover is designed to pay off borrowers/customers’ outstanding loans, as a result of death or permanent disablement of the customer.

Our activities are not just a scaled down version of regular or conventional Insurance operations, rather, our products, services and processes are completely tailored to meet the characteristics and preferences of low-income market.

At CreditStar Microinsurance Company, we focus on the needs and circumstances of the low-income populations that have been ignored or excluded from financial services and Government Welfare Schemes.

The numbers of Nursery, primary and secondary schools in Lagos State is over 18,500 and many of these pupils/students are not having any form of Insurance cover or the other. These categories of pupils/students have been either ignored or excluded from the conventional insurance service providers. CreditStar Microinsurance is determined and ready to bring inclusive Insurance and other financial services to the reach of these children in the State.

Credit Life Assurance Plan is a credit-linked plus micro insurance product, designed to cover the credit risk of both lending institutions inclusive as well as the funeral of the Life Assured upon death or permanent disability caused by illness or accident of the Life Assured.

The plan is extended to cover the following:

1. Funeral benefit, 2. Loss of Job, 3. Fire and Burglary, 4. Medical Expenses for Personal Accident.