FAQS

Frequently Asked Questions
  • It is a term loan that enables individuals and corporates finance their insurance premiums.

  • Salary Earners Small Medium Enterprises (SME’s) People who earn an income and can afford to split their premium payments without defaulting.


  • 2% monthly (24% per annum) – inclusive of Admin Fees and Payment processing Fees.

     


  • Via our website or from our bank partner portals.


  • Facility will be disbursed immediately upon successful application and verification of the asset to be insured.

     


  • It would be termed as voluntary cancellation of the policy and the policy will be terminated. No premium, no cover.

     


  • The Insurance Company issues the Policy Number


  • A copy of the insurance certificate will be sent to your email address provided during the registration process and you would also get an SMS from NIID.

     


  • The Policy is not transferable from the insured to any other person unless the Insurance Company's written consent has been obtained.

     


  • No, Insurance Premium Financing is not tied to salary but an actively funded/running account.

     


  • Equal monthly repayment of principal and interest.


PaddyCover is operated in partnership with NAICOM approved insurers.