SMILE Business Loan Protection
Protect your business loan starting from $23.20 (one time payment)*
Benefits
- Receive reducing sum assured benefits in case of Death or Total Permanent Disability (TPD) due to to illness or accident. Sovannaphum Life will help settle your business loan liability directly with Canadia bank.**
- Your family will have the peace of mind from the loan liability, and your business will live on.
- Easy and time saving through single premium payment.
Product features
| Insured's age | From 18 to 60 years old |
| Expired age | 65 years old |
| Sum assured (loan amount) | From $5,000 |
| Policy term | 1 to 15 years |
| Premium payment mode | Single payment |
| For loan borrowers that have business loan with Canadia bank | |
Example: In case the insured decides to choose the sum assured equal to the loan amount, and the life insurance term equal to the loan repayment term
Benefits and Protection
Case 1: The company will pay the reducing sum assured according to the reducing sum assured schedule as stated in the insurance policy, and the policy will be terminated immediately.
Case 2: The insured has the choices either to cancel the policy and receive the surrender value (if any) or to continue the policy and receive the protection until the end of the policy term.
- *The data provided is based on the premium calculation for the insured age 18, female with good health condition, with sum assured of $5,000 and 1 year policy term.
- **The company will pay the benefits equal to the reducing sum assured at that time.
- ***Subject to the loan interest rate of Canadia bank.
- #The reducing sum assured is calculated with 12% interest rate.
- Term and conditions apply.
- All information provided in this booklet is for marketing purpose only. For more detail information, please contact our company or Insurance Advisor at Canadia Bank branches.
