Trade Credit Insurance

What is trade credit insurance

There are a number of lifestyle-related diseases that are on the rise. Health issues such as cancer, stroke, kidney failure and cardiac diseases can be very expensive to deal with and manage longterm. This is precisely why critical illness insurance policies have been created. They can either be purchased as a rider or add-on with your regular health insurance plan or separately as their own plan. These policies offer cover for very specific issues and often provide claim pay outs as a single lump sum payment after the diagnosis of a critical illness.

Why to have trade credit insurance

What is covered

The policy has been design to cover insured against the commercial risks of their buyer’s default. Under this policy we will cover the portfolio of buyers and pay an agreed percentage of an invoice or receivable that remains unpaid as a result of covered causes of loss. The causes of loss covered under this policy are:

What is not covered

pre-existing conditions declared and/ or accepted at the time of application
War or any act of war, invasion, act of foreign enemy, (whether war be declared or not or caused during service in the armed forces of any country), civil war, public defence, rebellion, revolution, insurrection, military or usurped acts, nuclear weapons/materials, chemical and biological weapons, radiation of any kind
Insured person committing or attempting any breach of the law with criminal intent or arising out of or as a result of any act of self-destruction or self-inflicted injury, attempted suicide or suicide
Insured person’s participation or involvement in adventure sports..
Involvement in naval, military or air force operations
The abuse or the consequences of the abuse of tobacco, intoxicants or hallucinogenic substances including all forms of narcotic drugs and alcohol unless prescribed by medical practitioner
Lymphomas in brain, kaposi’s sarcoma, tuberculosis
Any treatment arising from pregnancy (including voluntary termination), miscarriage, maternity or birth (including caesarean section), congenital external defects or anomalies
For a complete list of exclusions, kindly refer to our policy wordings.