Credit Life Assurance

Choose Credit Life Assurance to Ensure Financial Stability

Credit Life Assurance is one of the many ways that you can secure the financial future of your loved ones. It is specifically designed to pay off a loan taken by the insurer in the event of his or her untimely death. To achieve various goals and fulfil aspirations people often rely on loans and credits. However, in the event of a person’s death, financial burdens automatically shift to living family members. To help your family tide through such difficulties, you can choose Credit Life Assurance from Jubilee Life Insurance. 

The face value of these policies is generally tied to the borrower’s debt balance. As the borrower pays off the outstanding debt, the face value of the credit life policy also decreases proportionally. This kind of insurance policy is preferred by many because it ensures complete coverage for the applicants, irrespective of their health conditions. Single as well as monthly or quarterly premiums can be chosen for these policies, depending on your convenience and financial leverage. 

You can choose Credit life insurance for home loans and auto loans. Since these involve considerably higher amounts, it is advisable to choose these kind of insurance policies. And the biggest advantage is that you will not be asked to take any health examinations to prove your eligibility for coverage.

Benefits of Credit Life Assurance Tanzania

Credit life assurance has emerged as a new way of securing financial freedom. Here’s how it benefits the policyholders.

  • In the event of a person’s death, the entire outstanding amount of the loan is paid to the financer. 
  • It also secures your future in the event of total and permanent disability. The full outstanding amount, as per the credit arrangement is paid to the financer, in the instance of an emergency situation that leads to total or permanent disability.
  • Upon the death of the borrower, an agreed amount will be paid to the beneficiary of the borrower as funeral expense. 
  • People who cannot qualify for enough life insurance to cover their debts after their death may choose these policies to ease the financial burden of family members. 
  • If you or your spouse passes away while holding the credit life insurance policy, obligations for paying taxes on the payout will not fall on the survivor.

Jubilee Life Insurance – offering a new lease of life

Keeping our customers at the heart of our efforts, we strive to deliver a comprehensive range of solutions that make life easier for our valued patrons. We understand the need to cater to varied needs and have therefore, developed different types of life insurance policies to fulfil your unique needs.

If you need the smartest way to secure your child’s future, choose the Career Life Plan to fulfil your children’s aspirations and ensure their financial security. It offers an excellent fund that is tailored to meet their higher education needs even in the instance of death or disability of the insurance holder. 

Worried about your retirement? Plan early and start saving with our Pension Plan. Life can become uncertain after you retire. To handle difficulties and lead a life of dignity, there’s no alternative to the Pension Plan.

Similarly, if you are trying to fulfil certain dreams, our Fanaka Plan provides you safe and secure mans to grow your wealth. Over time, it can help you to buy a car, home or fulfil other coveted dreams that you had been trying to accomplish.

Jubilee Life Insurance – Securing lives for 70 years

Jubilee Life Insurance is a leading life insurance company in Tanzania and has an extensive presence across East Africa. Serving clients in Kenya, Tanzania, Uganda, Mauritius and Burundi, we prioritise customer satisfaction and aim to deliver exceptional service. With over 7 decades of experience in this industry, we have consistently strived to safeguard the interests of individuals as well as businesses. 

While families have largely benefitted from our group life insurance policies, the group life assurance scheme has been extremely useful for corporate employees. To secure our clients’ financial future, we continue to upgrade our plans and introduce solutions that are tailored to meet their unique needs. Whether you need to save for your child’s education or plan retirement benefits, get in touch with us to receive the best advice.

Our representatives are trained to handle diverse client requirements and can help you to achieve financial freedom through our safe and secure policies. We have been consistently rated as one of the finest financial institutions and Jubilee Tanzania has been rated A+ by Global Credit Rating Co. For any information on our schemes, visit our website or call us at 0800783030. Customers can also log into our online portal to gather necessary information about policy related documents and check the policy renewal or revival status. 

Have a question? Do not hesitate to ask us. You can schedule an appointment with our representatives for the best insurance advice.