It is an insurance product which provides coverage for the customer’s credit debt repayment capacity against the death and disablement risks of which our mortgage, auto or cash-loan customers may face. 

Who can benefit from Credit Protection Life Insurance?

All our customers between the ages of 18 to 65 and who utilize auto, mortgage and cash-loan in TL from our bank can benefit from this insurance.

Which guarantees does the Credit Protection Life Insurance provide?

In cases of accidential death, death not considered accidental,  total definitive and permanet disability due to illness and permanet disability due to accident, it secures repayment of the credit debt determined on the insurance start date and makes its lump-sum payment within the scope of the terms and conditions of the policy. If there is a balance left after the credit debt payment, then this compensation is paid to the beneficiary, if the beneficiary has not been specified, then to the legal inheritors. Maximum credit debt balance is paid.

What is the tenor of Annual Renewal Credit Protection Life Insurance?

The insurance policy is issued on an annual basis; its renewal is guaranteed and renewed for 10 consecutive years at most. The age range for entering to the insurance is 18-65 and the age range for benefiting from the insurance is 18-70.

What is the premium amount I should pay?

The premium is calculated over the credit balance declining annually.

How the premiums are paid?

The premiums are collected upfront from the accounts and from other bank’s credit cards; and with 12 installments from TEB World, TEB Bonus and Garanti Bank credit cards.

How can I apply?