Granted to Financial Institutions to cover the outstanding debt in the event of the accidental death of the customer when there is a financial obligation, namely a bank loan, credit card, or line of credit. The insured amount decreases as the original principal of the loan is repaid.

Basic coverage

• Accidental Death: If an Insured Person dies accidentally while their coverage is in effect, and provided that it is not a cause for exclusion from coverage, the Company, upon receiving written proof of their death, will pay the financial institution the insured amount, which will be equal to the balance of the debt on the date of the Debtor’s death, subject to the provisions of this policy. This Accidental Death coverage has been extended by the Company based on the unique risk characteristics of the Insured and is not transferable.