- The duration of the cover is usually 60 months or less
- The loan amount involved will be about $ 5,000 (Five thousand Dollars) or less
- In most cases, medical examination is never required
- It only covers the outstanding loan amount.
- It does not cover default or arrears of the borrower (i.e. Unpaid repayments while borrower is alive)
- Claim amount is based on the repayment schedule of the Loan
- Claim amounts are normally paid to the Lender on production of the death certificate.
