When offering loans, how can banks and bancassurers protect themselves against unfortunate and unforeseen circumstances such as the recipient’s death or disability?

By offering credit life products alongside loans, these institutions can ensure direct repayment of any outstanding balance, while offering their customers and their families the peace of mind that the debt will be covered after an unexpected trauma.

As a key player with decades of experience and expertise in this market, Hannover Re offers effective support for all aspects of these diverse products. We have partnered with organisations to provide a wide range of protection in many different countries around the world.

This includes traditional solutions covering repayments of bank loan balances in the event of the bank customer’s death, as well as those covering loan repayments affected by disability, critical illness, hospitalisation and even unemployment.

With our backing, banks and bancassurers can:

  • Put credit life schemes in place or bring their own credit life business in-house
  • Offer a new service to their customers and create additional value
  • Support overseas expansion with local policies
  • Take advantage of opportunities in the growing credit life market at home or abroad

To find out more about our credit life solutions, reach out to your local Hannover Re contact.

Group and individual credit life products

We typically offer our partners group policy solutions, enabling them to offer a simple, quick and streamlined service to loan recipients. However, our highly skilled international experts can also support individual products, which serve needs not covered by group contracts and require a higher level of segmentation.

These individual solutions may be aimed at high-net-worth clients, senior citizens, higher-risk individuals, non-standard or corporate loans, for example. By making bancassurance cover available to a larger section of the population, these individual products can boost loan activity. 

Individual credit life products often target niches and specific populations and require both adequate reinsurance solutions and expertise in product design, pricing and underwriting that is rarely available locally. Thanks to its longstanding worldwide presence and expertise, Hannover Re offers clients suitable solutions to turn a credit life product launch into a great success.

Support services

We offer support services for every stage in the product lifecycle. Our clients benefit from our ability to partner effectively with them to provide a comprehensive and responsive service at every stage in a product's design and throughout its lifetime. This includes everything from market analysis, TPA solutions, product design, pricing and reserving, to medical underwriting and claims management. Our clients can also rely on us for expert support on sales and marketing.

Bancassurers can also benefit from our automated underwriting solution, hr | ReFlex, which can be quickly and conveniently integrated into bancassurers’ own systems and fully configured to reflect local market conditions. This results in better and faster risk selection and underwriting, and significant process efficiency gains.


Our experts can help you navigate the increasingly complex regulatory environments which are being introduced in some regions with the aim of reinforcing consumer protection. These laws relate to the following:

  • Need to make a clear split between the loan and the insurance cover
  • Ability of the client to buy cover elsewhere, if required
  • Relaxation in medical underwriting requirements
  • Amount of commission charged
  • Ownership of profit sharing

However, these developments, which aim to reduce insurance costs, are opening up the market for individual credit life business by:

  • Creating new sales opportunities
  • Leading to the establishment of new sales organisations, including digital players
  • Driving the emergence of alternative solutions for customers from banks and bancassurers as they take steps to promote customer retention


Our individual credit life products can also be offered through a wider range of distribution channels such as traditional brokerage or agent salesforces or direct-to-consumer.

Changes in legislation as well as digitalisation have enabled increasing use of newer approaches such as telemarketing and digital/internet platforms. These can involve high set-up costs for which Hannover Re can propose constructive solutions.