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Loan Credit Insurance in Malta
Whenever you are paying a loan, you are bound to think about how you would meet your repayments should your circumstances change. Will you put the burden of repaying your loan on your loved ones?
Optional Personal Loan Credit Insurance now makes it possible for you to protect the amount outstanding on your loan in the event of sickness, accident or involuntary unemployment.
What Does Credit Insurance Cover?*
In the event of accident or sickness the insurers will cover your monthly repayments until the end of your disability or until the end of the loan term - whichever comes first.
In the event of involuntary unemployment the insurers will cover your monthly loan repayments until you return to work, until the end of your loan term or until 12 monthly payments have been made, whichever comes first.
*Special Conditions may apply.
Am I Eligible for Personal Loan Credit Insurance?
You must meet the following conditions on the start date of the plan:
- Aged over 18 and under 65
- Living and working permanently in Malta and Gozo
- Employed, and have been so employed continuously for the last 6 months
- Not aware of impending unemployment
- Not suffering from, ever been diagnosed with, or currently undergoing investigations in relation to cancer, stroke, heart attack, kidney failure, AIDS or any HIV infection or diabetes.
(Special conditions may apply if you are self-employed, in temporary employment, are a fixed term contract worker or have a pre-existing medical condition).
Contact:
Optional Loan Credit Insurance now makes it possible for you to protect the amount outstanding on your loan in the event of sickness, accident or involuntary unemployment. This cover is available from our partners:
For Claims processing call Elmo Insurance on 23430300 or email us at elmo@elmogroup.com
Accident, Sickness and Unemployment cover will be provided by Elmo Insurance Ltd as the lead coinsurer. HSBC Bank Malta plc is acting as a tied insurance intermediary on behalf of Elmo and the other co-insurers, Atlas Insurance PCC Ltd, Citadel Insurance plc and GasanMamo Insurance Ltd subscribing to the policy. It should be noted that notwithstanding the number of insurers involved the client will only deal with Elmo in the event of an Accident, Sickness or Unemployment claim.
Download Accident and Sickness Claim Form
Download Unemployment Claim Form
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