What is Commercial Credit Life Insurance?
Commercial Credit Life Insurance is insurance that provides protection to the business against the risk of loss of life of the owner or partner in terms of cash or non-cash credit used from Yapı Kredi Bank by the business.
Why should I have Commercial Credit Life Insurance?
Life Risks Insurance provides two types of coverage
Life Risks Coverage: In the that event the policyholder develops any of the covered conditions and becomes permanently disabled as a result of the condition or an accident, payment will be made upon the diagnosis of condition or upon documented proof of disability.
Loss of Life Coverage: In the event that the policyholder loses his/ her life, the payment will be made to their beneficiaries.
Which credits are covered?
Cash/non-cash business credits such as check books, letters of guarantee, letters of credit, etc. can be insured. In the case of the business having more than one credit, a policy can be drawn for the total amount of all (cash/non-cash) credit products.
Loss of Life Coverage: In the event of the policyholder's loss of life, his/her credit debt is paid off based on the coverage amount stated on the certificate. Any remaining balance after paying off the credit debt is paid to the beneficiaries of the policyholder.
What You Need to Know
To obtain further information…
You may contact the Yapı Kredi branches to obtain further information on Commercial Credit Life Insurance.