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• Partnership solutions
• Income Protection Plan
• Protection of Payment Instruments
• Extended Warranty
• GAP Insurance

Income Protection Plan

Income Protection Plan is a life insurance product, applicable in the area of the credit destined to natural persons. In this context, in order to obtain a credit, the debtor has to produce evidence of a constant income which should allow him/her the reimbursement in due time of the borrowed amounts. Nevertheless, along the credit contract, unexpected events can show up which lead either to a diminution of the debtor's revenues or to their disappearance, which leads to the non-payment of the credit installments. It is statistically demonstrated that the most frequent events are: unemployment, temporary disablement, total and permanent disability (as a result of an accident or due to natural causes) and death of that person.

Income Protection Plan is a product distributed by banks/IFN-s (financial, non-banking institutions), being complementary to the credit products, thus offering to the Debtor and also the Creditor the following benefits:

• - Cardif pays the credit installments to the bank/IFN, in the name of the Debtor, in case of temporary disablement or involuntary unemployment;
• - Cardif pays the outstanding balance of the credit to the bank/IFN, in the name of the Debtor, in case of total and permanent disability or in case of death.

A research study made by Cardif in 21 countries, with 21,000 people, demonstrates the existence of a strong feeling of vulnerability among those who have contracted a credit, in case of occurrence of some unexpected events such as: serious illnesses, death, temporary disablement, unemployment, accidents, etc.

 

 

Income Protection Plan offers a financial protection in those situations when the Debtors have the strongest vulnerability feeling: temporary disablement or total and permanent disability, unemployment or death. This financial product can be attached to consumer credits, mortgage personal loans, mortgage loans, credit cards, debit cards with overdraft.