Concept

Lender insurance deals with contracts where the insured parties agree to pay installments to the provider of the contract in order to amortize incurred debt or to fulfill the assumed commitment.

The first beneficiary is the provider, who can obtain the discharge of a debt or financing plans in case of death, disability or even involuntary unemployment or loss of income. The difference that exceeds the balance will be paid to the second beneficiary, which must be indicated by the insured. In this field, the insured capital will be the maximum amount for the coverage contracted to be paid or reimbursed by the insurance company, in the event of a claim covered by the policy, in effect.

Address / recipient

It is a branch of the group of people insurance, which can be contracted individual or collectively, corresponding to a financial protection for companies that operate with credit and, for the insured, equals the tranquility in having their debt taken away and assistance to the potential beneficiary of the insured capital.

According to SUSEP circular no. 302/05, the lender insurance must cover at least one of the basic coverages, when the basic and additional coverage is structured.

The aforementioned circular still contains a description of death cover, permanent disability insurance in due to accident, permanent sickness insurance coverage, among others.

Services offered

Given the numerous possibilities of contracts covering the existence of lender insurance, such as loans, overdraft, credit card, among others, it is essential to have legal advice and performance of an office specialized in the field, requirements inherent to ACG Advogado office. Whether in the interests of the insured or in the interests of the insurer, our team is equipped to better assist you.

Legal relevance

Precisely because it is an insurance of great circulation in society and due to the many possibilities of existence, it is essential the knowledge about the advantages and peculiarities of the insurance lender, which, as we have seen, can lead to financial protection of various contractual relationships.