BNP Paribas Cardif Life Insurance holds ‘Senior Credit Care Academy’ to support the elderly to improve their digital finance and credit management capacity

March 19, 2024

BNP Paribas Cardif Life Insurance announced that it is working with the Senior Financial Education Council (SFEC), a non-profit corporation under the Financial Services Commission (FSC), to carry out the ‘Senior Credit Care Academy’ to strengthen seniors’ digital finance and credit management capabilities.

Since 2019, BNP Paribas Cardif Life Insurance and SFEC have been conducting the ‘Senior Dream High’ program, providing a digital financial education to improve the senior’s literacy in financial area and to protect the rights and interests of seniors as financial consumers for 5 consecutive years.

The ‘Senior Credit Care Academy’ provided a total of 20 offline lectures from last November to March this year for participants including the members of SFEC partner organizations such as Senior Welfare Center and Libraries located in Seoul area, as well as BNP Paribas Cardif Life Insurance’s policyholder above the age of 50. During some of the lectures, the participants get to practice what they learnt with the BNP Paribas Cardif Life Insurance employee volunteers.

Lectures are provided by professional instructors on the most needed 5 topics for the elderly such as ▲how to use mobile banking, ▲how to use integrated account information management, ▲how to prevent financial fraud, ▲credit management to protect myself, and ▲how to prevent economic abuse and financial exclusion. Especially, the credit management section deals with the wise credit and debt management methods under the high interest rate, and creditor life insurance as a way to prevent the risk of the debt inheritance and non-payment of loans.

Jonathan Oh, the President and CEO of BNP Paribas Cardif Life Insurance, said, “With the recent acceleration of digital transformation across the financial industry, it’s more important than ever to pay attention to the needs of senior consumers who may otherwise be marginalized. Through this program, we hope to empower senior financial consumers with digital financial capabilities and help them lead confident and smart financial lives in a changing environment.”

BNP Paribas Cardif Life Insurance, which has been leading the way in building a healthy loan ecosystem by providing creditor life insurance, provides an integrated ‘Credit Care Program’ to support for credit management. Under the program, ‘Credit Care Guide’ offers useful information for credit management and ‘Credit Care Academy’ provides credit management economic education for the financially vulnerable, such as middle school students and seniors.