- Permanent Total Disability
This means that the insurer will pay the outstanding loan if the borrower is injured through accident or sickness and is unable to work.
- Involuntary Unemployment/Retrenchment/Loss of Job
This means that the insurer will make the periodic repayment for a specific period if the Borrower lose his job due to no fault of his such as Mergers and Acquisition, Restructuring & downsizing. Corona virus pandemic had a serious effect on world economy that led to mass loss of jobs