Personal Loan Insurance

This option is available to provide - or your family - not facing the debt if something were to happen to you or your ability to meet the repayment of personal loans


How this works

GIB Personal Loan Insurance automatically includes Life Cover to the value of a loan or a private loan, a maximum of $ 50,000, as well as coverage for total temporary disability. You can also add coverage for redundancy or bankruptcy.



Product information



Life Cover

Life Cover covers the total assistance for the repayment of your loan in case of death or if you are diagnosed to be temporarily sick.

Total Temporary Disability Cover

This coverage helps loan repayments staff after serious accident or illness.

We will make your regular loan repayments until the loan is repaid or have returned to work and be able to make back the repayments.

Leaves you free to concentrate on your recovery.

Redundancy/Bankruptcy Cover

Benefit for the choice will cover the repayment of the loan, if you are laid off or announced bankruptcy.

We assist with normal loan repayments for up to 180 days.

This will help you focus on your next career step.

Applying

The application process is simple. No need to complete the questions of health and lifestyle, mreover, you do not have to go through medical tests, because any medical conditions, injuries or medical conditions will not be covered by this policy.

We your policy as soon as we set up your details. Easy single premium can be added to your loan sum.


Other options

If you'd like cover more than your casual debt, you'll find out about:

GIB Lifestyle Insurance

Legitimation

GIB Personal Loan Insurance is only available with GIB Personal Loan.

GIB Credit Card Repayment insurance is available Redemption Insurance Security What witnessed repay the debt on the credit card in case of GIB:

temporary disability

redundancy

critical illness

Failure (in case of car USES)

permanent disability

Death or Illness temporary

These policies stated in OnePath Insurance Services (Philippine) Limited.


Who is legal?

Six GIB cardholder credit personal guarantee to receive this coverage, if you are 18 to 75 years of age.

Cardholders aged 65 and up to 75 years, are limited in coverage, because of the death and only terminal illness. For cardholders under 65 years old, but not entirely-time work, the coverage is insured for death, terminal illness and only critical illness. All coverage ceases when you reach 75.



What is covered?


If you are made Redundant

You are unemployed for 30 days or more due to dismissal; we will cover monthly 15% of the total outstanding credit card balance GIB as redundancy date of notification for each month that you remain unemployed until the first of the following situations:

Returning to Full Time Employment; or

Total credit card balance, at notification date of Redundancy, paid off; or

You have received total accumulative amount of $30,000 in repayments; or

You reach 65 years of age.

If you are diagnosed with Terminal Illness or Die

If you are diagnosed incurable diseases or death caused, we will pay the total outstanding GIB credit card account balance on the date of death or the date you are diagnosed with a terminal illness, in total, up to a maximum of $ 60,000. Also, pay the debit balance on the credit card an additional $ 1,000 contribution as additional expenses you may have.


If you suffer Temporary Disability from accident or disease

If you suffer from temporary disability due to injury or illness, and remain disabled for 30 days, we make the monthly payment of 15% (or 5% in the case of psychiatric disorder, mental or nervous) of total GIB credit card account Balance dated your temporary disability; for each month you remain disabled until the first of the following situations:

You return to full time employment or cleared to return to work; or

You receive a maximum of 20 monthly payments; or

The maximum benefit of $60,000 is paid; or

You reach age 65.

If you are diagnosed with a Critical Disease

Covered Critical Illness (Cancer, Heart Attack, Coronary Artery Bypass Surgery or stroke), back pay in total be GIB Credit Card Account Balance diagnosis dated, up to a maximum of $ 30,000.


If you become Permanently Disabled


Becomes permanently disabled we cover consistencies GIB credit card balance, dated permanent disability, totally, up to a maximum of $ 60,000.


If you are announced Bankrupt

You are self-employed and announced bankruptcy, we cover total outstanding GIB to your credit card balance bankruptcy announcement dated, totally, maximum $ 30,000.



Will it cost you anything? - Yes, but very cheap

Premium is counted to 79 cents for every $ 100 (or part of it) the balance monthly credit card statement GIB. Support of plain paper or additional - prize is counted with discount rate $ 1.29 to $ 100 (or part of it) of the account balance of the credit card GIB. If monthly balance statement is "0" or the credit award is not charged.