Decreasing Term Assurance (DTA)
This plan is specifically designed to fulfil the bank’s requirements for various types of loans, e.g. mortgage, personal, auto loans (cars), etc.
This plan has a sum assured that decreases each year (or month) by a specified amount, reducing to nil at the end of the term. Although the cover decreases annually, the premium remains constant throughout the term. In the event of unfortunate death or disability, bnl will pay the outstanding sum assured amount to the bank to ensure that your family has adequate financial protection.
- Lump Sum Payment You can choose an appropriate amount to cover and we’ll pay the outstanding amount to the bank after a successful claim.
- Financial protection for your family in the event of unfortunate death
- We’ll pay the beneficiary (e.g. bank) a lump sum of the outstanding amount in the event of unfortunate death during the policy term
- Flexible Length of Cover