BNP Paribas Cardif Life Sells Online 'Loan Safety Guarantee Insurance' with Finda
BNP Paribas Cardif Life Insurance announced on the 5th that it has launched the 'Loan Protection Insurance,' which can be subscribed to online, and will sell it through the loan comparison platform Finda.
View original image[Asia Economy Reporter Oh Hyung-gil] BNP Paribas Cardif Life announced on the 5th that it has launched the 'Loan Safety Guarantee Insurance,' which can be subscribed to online, and will sell it through the loan comparison platform Finda.
The Loan Safety Guarantee Insurance is an insurance product where the insurer pays off the remaining loan if the borrower experiences an unexpected insured event. BNP Paribas Cardif Life is the only life insurance company currently selling credit life insurance.
It is available for subscription from ages 19 to 65 and, in addition to death, can cover cancer, cerebral hemorrhage, acute myocardial infarction, and severe aftereffects through special riders. For a 40-year-old with a main contract insurance amount of 100 million KRW, a 20-year term, and 20-year payment period, the monthly premium is 29,000 KRW for men and 18,300 KRW for women.
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Oh Jun-seok, CEO of BNP Paribas Cardif Life, stated, "The burden of household debt repayment is increasing, and the resulting issues such as debt inheritance are becoming a significant social problem. Based on the expertise of our global leader in credit insurance, we plan to accumulate online customer experience and know-how to robustly support the loan repayment journeys of a wider range of customers."
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