The program is aimed at protecting the obligations of the Borrower to the Credit Organization.
Nowadays, Credit provides the opportunity: to solve various kinds of problems, satisfy current needs or implement interesting ideas, and sometimes it even gives an opportunity to fulfill a cherished dream. And for entrepreneurs, the Credit provides an opportunity to develop their own business.
The Borrower, knowing the amount of his earnings or estimated income, when applying to the Credit Organization, calculates the amount and considers duration of the loan payments allowed for him.
But there are factors that the Borrower cannot foresee. These factors include, among others: Accidents and Illnesses that can happen to anyone, anytime. As a result, the Borrower runs the risk of being unable to work or, even worse, dying. At the same time, the obligations of the Borrower to the Credit Organization do not disappear anywhere, and responsibility for repayment of the Loan is shifted to the shoulders of his relatives and friends, guarantors.
In order for the Borrower to be able to protect himself in the event of such incidents and to avoid unforeseen financial expenses, the Insurance Organization «BIMA» has developed the «Priority» Insurance Program.
The main idea of the program is as follows:
If the Borrower becomes unable to work or dies during the course of the Loan Agreement due to an accident or illness, the Insurance Organization shall repay the Loan instead of the Borrower in the amount of his debt to the Credit Organization.
This allows the Borrower, in the event of unforeseen situations, to shift the burden of responsibility onto the shoulders of the Insurance Organization, avoid fines and penalties for an overdue Loan, not burden his relatives and friends financially, and even receive a certain amount for adaptation in new living conditions.
ATTENTION! Insurance coverage is provided only as a result of accidents.