Group Credit Life - Fabix Insurance
LIFE ASSURANCE

Group Credit Life

Protect your borrowers and loan portfolio with comprehensive group credit life insurance.

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WHY GROUP CREDIT LIFE

Why Choose Group Credit Life

Protect your lending business and borrowers with comprehensive group credit life insurance

Loan Protection

Protect your loan portfolio by ensuring outstanding balances are covered in case of borrower death

Borrower Security

Provide peace of mind to your borrowers knowing their families won't be burdened by debt

Risk Mitigation

Reduce your lending risk and protect your financial institution from losses

Portfolio Protection

Safeguard your loan portfolio and maintain financial stability

Trust & Confidence

Build trust with your borrowers by offering comprehensive protection

Peace of Mind

Operate with confidence knowing your loans are protected

FEATURES

Key Features

Discover the comprehensive features of our Group Credit Life insurance

Loan Balance Coverage

Coverage for the outstanding loan balance up to the date of claim

Group Coverage

Coverage for all borrowers under a single master policy

Simple Administration

Easy enrolment and administration with minimal paperwork

Quick Claims Processing

Fast and efficient claims settlement for your borrowers

Flexible Terms

Customizable coverage periods that align with loan terms

Affordable Premiums

Competitive group rates that benefit both lender and borrower

COVERAGE OPTIONS

Our Coverage Options

Choose the group credit life plan that best fits your lending portfolio

ESSENTIAL

Essential Cover

From KSh 50 per borrower
  • Loan balance up to KSh 500,000
  • Death benefit cover
  • Simple administration
  • Quick claims processing
  • Monthly reporting
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POPULAR

Standard Cover

From KSh 100 per borrower
  • Loan balance up to KSh 2,000,000
  • Death & terminal illness cover
  • Optional critical illness cover
  • Flexible premium options
  • Monthly reporting & analytics
  • Dedicated account manager
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PREMIUM

Premium Cover

From KSh 200 per borrower
  • Loan balance up to KSh 10,000,000
  • Death, terminal & critical illness
  • Disability cover
  • Full customization options
  • Comprehensive reporting & analytics
  • Dedicated account manager
  • Client portal access
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DETAILED COVERAGE

What's Included

Comprehensive protection for your lending portfolio

Loan Balance Cover

Coverage for the outstanding loan balance in the event of borrower death, protecting your lending portfolio.

Up to KSh 10,000,000
Death Benefit

Lump sum payment to settle the outstanding loan balance when a borrower passes away.

100% of loan balance
Terminal Illness Benefit

Early settlement of the loan balance if a borrower is diagnosed with a terminal illness.

100% of loan balance
Critical Illness Cover

Optional coverage for critical illnesses such as cancer, heart attack, and stroke.

Up to KSh 5,000,000
Disability Cover

Coverage for permanent disability that prevents the borrower from repaying the loan.

Up to KSh 5,000,000
Comprehensive Reporting

Detailed monthly reports on coverage, claims, and portfolio performance.

Full reporting suite
BENEFITS

Benefits for Lenders

Why financial institutions choose our Group Credit Life insurance

Portfolio Protection

Safeguard your loan portfolio from borrower death and disability

Reduced Default Risk

Minimize loan defaults and maintain financial stability

Enhanced Borrower Trust

Build loyalty and trust by offering comprehensive protection

Easy Implementation

Simple enrolment process that integrates with your lending system

Get Your Group Credit Life Quote

Complete the form below and we'll get back to you with a competitive quote

FAQ

Frequently Asked Questions

Find answers to common questions about Group Credit Life insurance

What is Group Credit Life insurance?

Group Credit Life insurance is a type of coverage that protects lenders and borrowers. If a borrower dies or becomes disabled, the insurance pays off the outstanding loan balance, protecting the lender's portfolio and relieving the borrower's family of debt.

Who pays the premiums?

Premiums can be paid by the lender or passed on to the borrowers. The most common approach is to include the premium in the loan cost, making it affordable and easy to manage.

How are claims processed?

Claims are processed quickly and efficiently. The lender submits the claim with the necessary documentation, and the outstanding loan balance is paid directly to the lender.

Is there a waiting period?

Coverage typically begins immediately after the loan is disbursed. There is no waiting period for most coverage options, providing immediate protection.

Can the coverage be customized?

Yes, our Group Credit Life plans can be customized to fit your specific lending portfolio needs. We offer flexible coverage amounts, terms, and optional add-ons.

What documentation is required?

For enrolment, we need basic borrower information and loan details. For claims, we require a claim form, death certificate, and loan documentation. Our team will guide you through the process.

Why Choose Fabix Group Credit Life?

Portfolio Protection
Quick Claims
Borrower Security
Competitive Rates
Expert Support
Trusted Partner