Commercial Credit Life Insurance is insurance that provides protection to the business against the risk of loss of life of the owner or partner in terms of cash or non-cash credit used from Yapı Kredi Bank by the business.
Commercial Credit Life Insurance
What is Commercial Credit Life Insurance?
Why should I have Commercial Credit Life Insurance?
- Commercial Credit Life Insurance helps a company to continue its operations in the event of the loss of life of the owner or partner.
- After deducting any credit debt, any remaining balance from the compensation is paid to your beneficiaries by the bank.
- You can deduct the premiums you have paid from your taxable income, to obtain tax advantages.
Life Risks Insurance provides two types of coverage:
Life Risks Coverage: In the that event the policyholder develops any of the covered conditions and becomes permanently disabled as a result of the condition or an accident, payment will be made upon the diagnosis of condition or upon documented proof of disability.
Loss of Life Coverage: In the event that the policyholder loses his/ her life, the payment will be made to their beneficiaries.
What You Need to Know
- The period of the insurance contract is one year.
- Anyone between the ages of 18 - 69 who is a company owner or partner with business credits taken out on behalf of the company may apply for Commercial Credit Life Insurance.
- Insurance premium amounts vary depending on the coverage and age.
- Insurance premiums may be charged to an account or credit card, either in a lump sum payment or in installments.
To obtain further information…
You may contact the Yapı Kredi branches to obtain further information on Commercial Credit Life Insurance.
Which credits are covered?
Cash/non-cash business credits such as check books, letters of guarantee, letters of credit, etc. can be insured. In the case of the business having more than one credit, a policy can be drawn for the total amount of all (cash/non-cash) credit products.