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