Personal Loan Insurance: Your Shield Against Financial Uncertainty

• Personal loans help meet urgent financial needs but can become a burden due to high interest rates and potential repayment issues.
• Personal loan insurance (or protection insurance) is an optional tool that covers outstanding loan amounts in unforeseen events like death, critical illness, or disability.
• It provides peace of mind, financial protection for the family, and generally comes with affordable premiums and flexible payment options.
• Lenders typically offer two types: term insurance (covers death) and critical illness cover (covers specific illnesses).
• When choosing, assess your financial situation, compare options, check claim settlement ratios, and carefully read terms and conditions.

Why It Matters: Personal loan insurance is an optional, affordable safeguard protecting you and your family from loan burdens during crises.