Credit Life Insurance is an insurance agreement used during the term of credit which provides as much death coverage as the amount of credit. The debt of the insured to the bank is paid by Katılım Emeklilik if he/she passes away within the period of insurance. Thus, the deceased insured is free of any debts. In addition, after the debt of the insured to the bank is settled, the remaining insurance guarantee, if any, is paid to the beneficiary or legal heirs of the insured.

The period of insurance is as much as the term specified in the credit agreement. Real and healthy persons between the age of 18 and 74 who use credits in the personal and commercial sectors can benefit from this product.

The premium you will pay to Credit Life Insurance is determined according to your premium payment model (in cash/monthly), credit amount and health condition. You can pay the premium with an automatic payment order from your bank account or credit card in cash or in 12 and 24 instalments within the first year.

Decreasing Balance Guarantee

The amount of your insurance is the amount of debt in your repayment plan determined in the credit agreement. The amount of guarantee specified in the participation certificate is paid by Katılım Emeklilik to the relevant bank branch in the event of death. After the credit debt is settled, the remaining amount, if any, is paid to the beneficiaries of the insured.

Since Decreasing Balance Credit Insurance guarantees as much as your debt, the amount of premium you will pay will be less than other fixed balance products. In addition, it provides fully comprehensive protection since it offers more guarantees when compared to Personal Accident Insurance products.

Access more detailed information about the product at

Click here for General Conditions of Life Insurance.