Credit Life Plus Funeral Plan (Bumper to Bumper) is a credit-linked plus microinsurance 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. This product is sold on a compulsory basis, attached to loans given by licensed financial institutions. Credit Life Plus Funeral provides coverage beyond the basic credit life policy so that Life assured receives benefit in cash in case of Permanent Disability or its beneficiary receives financial benefit upon the Life assured death through a fixed payment called funeral expenses.
