Credit Insurance is divided into two types Consumer Credit Insurance and Productive Credit Insurance
Credit Insurance is divided into two types Consumer Credit Insurance and Productive Credit Insurance
credit insurance has is its own function here's the explanation one Consumer Credit Insurance this type of Credit Insurance profile discoveries for the risks of default on customer credit this insurance is generally given to the individual customer such as credit life insurance or layoff Credit Insurance discredit life insurance offers conflicts if the individual chapter will receive the loan dice so they cannot pay off the credits meanwhile lay of credit insurance will be given when the debtor is determined of or of or fired from his place of work example of Consumer Credit Insurance product include PCL Credit Insurance vintage and multi-purpose 2. productive Credit Insurance productive Credit Insurance is a type of credit insurance that that provides risk of rate benefits that cannot pay for
productive credits this insurance product usually Target corporate group are um in other words this type of insurance cover the risks of default on credit granteds to corporate debtor from a financing institution generally the failure the to pay part is related to the debtor file business example of this type of insurance are working Capital Credit Insurance investment Credit Insurance and UI omkm Credit Insurance in addition to Credit Insurance it is also important to consider an employee insurance policy that way your company can be protected bought from credit risks and employee loyalty credit insurance premium calculation depending on the credit selling credit period and the x of the debtor to calculate the amount of this insurance premium the following formula is used the premium is
the same as the insurance rate times the credit selling well to determine the amount of Credit Insurance costs the company will calculate its based on how long the credit tenor is covered an example of a calculation using the above formula is as follows a person takes out the 10-year loan and gets an insurance rate of 3 percent with a long sailing of 100 million the premium calculation is or follows the premium is equal to three percent multiplied by 100 million and the result is 3 million so the amount of Premium that must be passed by the person is 3 million per month for 10 years beside that as with other types of insurance Credit Insurance also has several benefits there are at least three benefits that you will get if you have this insulin the benefits in question are as follow profile payment of the remaining loan without areas spend the remaining interest on the loan plus areas pay interest a maximum of three months to the payer of the initial loan described it insurance benefits can be recite by adapter with an egg ring of the 20 until 64 years the condition is the maximum X and the time of loan repayment is 65 years not only that the depth or hot condition must also be in good condition thank you for watching this article don't forget give like comment and subscribe
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