What happens to the insurance attached to the assigned loan in favour of the bank if the loan is repaid early and an insured event occurs?
On early repayment of a loan, the insurance policy closes because it was agreed when the loan was granted. Therefore, insurance ceases on the date of repayment of the credit.
You might want to consider taking out another, individual life insurance policy. If you always want to be on the safe side, check out BT's offers: Asirom, Metropolitan Life or contact an insurer. 🙂
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