Group Insurance

Provide your organization with greater financial stability

Group Creditors Life Insurance

This plan provides financial coverage in the event of death, prior to the maturity of an obligation, of persons indebted to a creditor. The policy is issued to the Creditor covering the lives of his debtors, for which such debtors are insured for an amount equivalent to the outstanding obligation, subject to a maximum limit.

Advantages of GCLI:

To the Debtor:

Assurance that any unpaid balance will not burden the family or estate

Satisfaction in knowing that a time-purchased item will remain in the possession of assigned beneficiary

Protection for any endorsers or consignors

To the Creditor:

Prompt settlement of outstanding debt

Elimination of embarrassing and costly legal action and negotiations

Dismissal of difficulties involved in repossession and resale

Development of goodwill with the customer’s family as well as prestige for the business community

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