Home Credit takes the lead in providing additional loan insurance benefits for borrowers’ relatives

Home Credit Vietnam Finance Company Limited has cooperated with three insurance partners, namely PTI, GIC and Bao Minh, to provide additional benefits for customers’ legal spouses with the insurance equal to 100% of the amount of their initial loans. This is the first time in Vietnam customers taking out loan insurance have enjoyed additional benefits for their relatives.

Accordingly, from July 13, 2018, when taking out loan insurance offered with credit agreements to buy consumer durables, telephone or cash loans through Home Credit (not applicable to installment loans of two wheel), customers will be entitled to additional benefits in case an insured event happens to their spouse. Especially, insurance premium remains unchanged.

In particular, previously, it limited the borrowers to be insured, but the insureds now include both borrowers and their legal spouses.

New insurance benefits of loans with Home Credit:

  • In case an insured event happens to the customer’s spouse, 100% of the amount of the initial loan will be paid and;
  • In case an insured event happens to the customer and their spouse at the same time, 350% of the amount of the initial loan will be paid*
  • In addition, when an insured event occurs, borrowers are also entitled to a support of a part of hospital charges, helping to reduce financial burden on their family.

These are highly humane terms that Home Credit strives to bring to our customers – most of whom are with low income and unable to make provisions for risks.

With 10 years of experience in the field of consumer credit in Vietnam, Home Credit understands that customers are always worried about risks associated with their and their relatives’ health as such risks entail financial burden when they have a long-term installment loan. That's why people usually choose to pay a small sum of money to buy insurance for their loans.

With the loan insurance package with unchanged premium and more benefits, customers will be given peace of mind with long-term plans for themselves and their families. This is also the way Home Credit show our commitment: Home Credit is a responsible lender.

Home Credit is also known as the pioneer in having in place the processes for rescheduling and freezing of debts for customers in case of accidents, unemployment or other difficult situations in life which seriously affect personal finance./.

Posted on 25.07.2018