The insurance offers a minimum coverage from P10,000 to P2 million, providing borrowers of SB Finance with financial security and protection whenever they take out a loan, as this will cover the loan balance of the borrower in the event of death or total and permanent disability.
The group credit life insurance costs P4.32 per P1,000 loan amount and is open to borrowers from 21-70 years old. To avail, borrowers need to fill out a form which will be reviewed and approved by FWD.
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