Credit Protection Insurance

Credit Protection Insurance

Sacos offers different types of credit protection plans, the purpose of which is to settle your insured debts with the respective financial institutions in the event of Total and Permanent Disability or death. This ensures that your family will not be burdened by your debts in case of your untimely disability or demise. Depending on the nature of the credit, clients can choose between two available options.

Our Range of Credit Protection Insurance

  • Credit Life

    The product was tailor-made to accommodate all banks in Seychelles lending unsecured loans, in case of death and Total and Permanent Disability.

    As a prerequisite, clients have to take this plan prior to loan disbursement.

    This plan aims to remove financial burden on surviving family members or business partners in the event of untimely Total and Permanent Disability or death of the policy holder.

  • Mortgage Protection

    The cost of constructing one’s house or acquiring other assets such as a car or a boat continues to increase. Given that these purchases may involve a large sum of money, the purchaser may have to borrow some or the entire purchase price from a financial institution.

    As a security for the loan, the financial institution requires the borrower to purchase a Mortgage Protection Plan for the amount of loan granted.

    This plan aims to remove financial burden on surviving family members or business partners in the event of untimely Total and Permanent Disability or death of the policy holder.

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