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Target group-specific insurance products for all types of loans.

Payment protection insurance

How to protect payment obligations arising from private or commercial loans

Whether it's current account linesprivate credit products or corporate loans: Whenever loan obligation have to be repaid in accordance with the contract your customers and you as the lender are exposed to considerable risks. When it comes to securing their financial existence, it is therefore crucial that you offer your customers the opportunity to make appropriate provisions. With a sensible insurance solution, which we will develop together with you individually and according to the respective needs of your target groups—be it for companies, the self-employed, freelancers or private individuals. The advantages for you are obvious: You can fulfil your obligation to advise on potential risks in the best possible way, ensuring the satisfaction of your customers even in unforeseen situations. And: you can be sure to get your money back.

Commercial payment protection insurance to provide the existence of the company

Creating prevention is the motto. There are various insurance modules available for this purpose, e.g. covering death, disability, loss of self-employment or accidental disability. Depending on the module selected, either the monthly installments from the loan obligation are covered or—as in the case of death—an agreed insured sum is paid out as a one-off benefit. In the event of death, the residual debt from the leasing and loan agreement is also covered. It is also possible, for example, to pay a pre-defined amount as a lump-sum benefit in the event of accidental disability or serious illness.

Current account protection to maintain the credit line of your business customers

Bad payment behavior, seasonal fluctuations or the acquisition of important working materials—all this can make business account plunge into the red temporarily. This is exactly the situation the current account overdraft is made for. But what if the repayment of the debit balance of your customers becomes a problem, e. g. due to illness of the managing director? With current account protection from Credit Life, you and your customers are on the safe side. For in the event of a claim, your customer will receive financial support—an insured monthly instalment resp. an insured sum.

Tailor-made protection also for your private borrowers

With a payment protection insurance tailored to your needs, you have the opportunity to minimize your credit default riskexpand your product range for private customers and generate additional income.

In the event of a claim, the payment protection insurancefor private individuals covers the pending loan installments, the agreed insured sum or the remaining loan sum as a one-off benefit or in the form of monthly installments. This protects your customers from further economic consequences of their financial bottleneck, enabling them to continue using the financed item.

Furthermore, you have the option of supplementing your insurance product with additional attractive benefits that will help your customers recover or find a new job, for example. You can also bundle the various services into requirement-based packagesthat you can offer your customers according to their needs.

In any case: your services will be individual designed

The individual design as an unmistakable product of your house will be carried out together with you. We will partner up in developing an innovative offer, which also creates a solid basis for a sustainable business relationship with your customers.

The most important advantages of payment protection insurance a glance

  • Minimization of credit default risk
  • Securing the livelihood of your customers
  • Extension of your offer to your customers
  • Generating additional income
  • Adding attractive additional services to your products
  • Strengthening your customer relationships 

Risks

Please find below a selection of definitions and risks.

Temporary disability

Unemployment

Termination of self-employment

Permanent disability

Hospitalization

Dread diseases

Death

Accidental death

Disability caused by accident

Contact person

Andreas Klodt-Sauerwein

Head of Department Sales