BNP Paribas Cardif Life Insurance announced that it starts to offer ‘(NP) The Safe Creditor Protection Insurance’ through the mobile application of Standard Chartered Bank Korea within the framework of the partnership with the bank on CPI (Creditor Protection Insurance) business.
If the policyholder of ‘(NP) The Safe Creditor Protection Insurance’ passes away or is diagnosed with permanent disability (80% or more) or three main diseases (Cancer, Cerebral hemorrhage, Myocardial infarction), BNP Paribas Cardif Life Insurance will pay off 100% of the remaining balance. Customers can choose one of three types of protection (Standard/ Cancer/ three main diseases) according to their needs.
The existing loan customers of Standard Chartered Bank Korea can easily sign up for ‘(NP) The Safe Creditor Protection Insurance’ without having to visit a bank branch through the mobile application of Standard Chartered Bank Korea.
Benoit Meslet, CEO of BNP Paribas Cardif Life Insurance said: “The partnership with Standard Chartered Bank Korea on CPI business would be great opportunity for both companies. Through this partnership, BNP Paribas Cardif Life Insurance can strengthen its position as the leading company in the CPI market and Standard Chartered Bank Korea can protect its loan customers from unexpected accident during the loan period. For customers, we’re looking forward that offering CPI product through the mobile application contributes to enhance customers’ experience in the digital era.”
‘(NP) The Safe Creditor Protection Insurance’ is available for borrowers aged from 19 to 60 (renewal type) or 65 years (non-renewal type). The borrowers can decide the insurable amount within limits of the loan at the initial subscribing point; from KRW 5 million to 1 billion, and decide renewal or non-renewal type considering the loan period.
Meanwhile, BNP Paribas Cardif Life Insurance will offer the travelling pouch set as a gift on a first-come, first-served basis for 1000 new customers who are subscribed on company’s CPI products between August to October 2017 with monthly premiums of over seven thousand won.