Group Debtor Balance Decreasing Amount
The purpose of this policy is to cover the unpaid balance of the debt as of the date of the debtor’s death for any cause not excluded and cancel said debt with the Contracting Party of the policy. In the event of Total and Permanent Disability, the Company shall pay in a single payment to the Contracting Party the unpaid balance of the debt, which includes the principal, the current interest not paid by the Debtor-Insured at the time of the loss, as well as the premiums pending payment.
Finally, if the Insured becomes unemployed for any reason not attributable to him/her, subject to having contracted the coverage and paid the corresponding premium, the Company shall pay the Policyholder the contracted Monthly Benefit.
- Death from any cause
- Additional Total and Permanent Disability Coverage
- Optional Additional Unemployment Coverage