SMILE Home Loan Protection
Protect your home loan starting from $23.20 (one time payment)*
- Receive reducing sum assured benefits in case of Death or Total Permanent Disability (TPD) due to illness or accident. Sovannaphum Life will help settle your home loan liability directly with Canadia Bank.**
- Your family will have peace of mind from the loan liability, and they will still be able to continue living in that loving warm home.
- Easy and time saving through single premium payment.
|Insured's age||From 18 to 60 years|
|Expired age||65 years|
|Sum assured (loan amount)||From $5,000|
|Policy term||1 to 15years|
|Premium payment mode||Single payment|
|For loan borrowers that have home 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 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 specific time
- ***Subject to the loan interest rate of Canadia bank.
- #The reducing sum assured is calculated with 12% interest rate
- Terms and conditions are applied.
- 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