All loans are insured to cover incidents such as illnesses (mental and physical incapacitation) or death.
Insurance protects you and the guarantors from liability in the event of any of the conditions above.
There are two types of insurance premiums.
- Moratorium insurance – this is paid each academic year during the loan application process
- Repayment insurance – this is paid as a part of the monthly payment throughout the duration of the loan.
Disclaimer: not all persons are insurable.