Commercial loan rate

The types of loan-credit arrangement include the following: Mortgages Unsecured/Secured Personal Loans Credit Cards The cover provided varies according to the requirements of the financial institution but generally includes the payment of benefit in the event of the insured customer being unable to work due to accident, sickness or unemployment. Certain schemes cover purely unemployment whereas others include disability only. It is particularly important with ASU Schemes that reference is made to the master policy as this is the definitive statement of cover.

As each policy is unique it should not be assumed that policy conditions, exclusions etc are common to all schemes. The purpose of this section of the Personal Accident and Sickness manual is to clarify some of the " grey " areas that can, and have, proved contentious in the past and to provide guidance for the handling of such situations in the future. However, where Branches have any doubts about a course of action reference must be made to HO Claims. It is normal practice with ASU Schemes for premiums to be collected, and certificates of insurance commercial loans to be issued, by the financial institution with whom we have arranged cover.

However, where Branches have any doubts about a course of action reference must be made to HO Claims. It is normal practice with ASU Schemes for premiums to be collected, and certificates of insurance to be issued, by the financial institution with whom we have arranged cover. However, it should be remembered that whilst the master policy will refer to the credi banks as the " Policyholder " it is their client who is our insured customer. Claims are normally intimated via the Policyholder who will advise that cover is in force, the amount of benefit and also that premium has been paid. ACCIDENT/SICKNESS The handling of accident and sickness claims under ASU Schemes will involve the same principles as illustrated in the earlier sections of this manual.