Everything about life insurance

Individuals aged 18 to 65 who receive a loan may be insured under the borrower’s life insurance product. Individual entrepreneurs may also be insured

The insured amount under the borrower’s life insurance agreement equals the amount of the loan taken by the borrower. This guarantees that in the event of the borrower’s death or disability, the insurance company will pay the bank the outstanding debt, thereby protecting the interests of both parties

The term of the borrower’s life insurance agreement is equal to the loan term

As a one-time payment before the agreement becomes effective