Hi, how can we help?
Other FAQs related to Loan Protection
Para sa Taglish version ng article, basahin dito.
Q: Can I cancel Loan Protection after my loan application has been approved?
A: Once your loan application is approved, you cannot add or cancel the service. Please ensure your decision is final before proceeding.
Q: After I purchase Loan Protection, is it guaranteed that I will be able to enjoy the Late Fee Waiver and Group Credit Protection Insurance?
A: The Late Fee Waiver guarantees a waiver on your first overdue loan repayment if you miss the due date.
Group Credit Protection Insurance coverage is subject to SeaInsure's approval and may be denied if you do not meet their eligibility criteria.
Q: What will happen if my Group Credit Protection Insurance is rejected?
A: If your Group Credit Protection Insurance application is rejected, you will be notified and cannot claim its benefits for covered events. However, you will still be eligible for the Late Fee Waiver.
Q: How do I use the Late Fee Waiver?
A: You don't need to apply or contact us for the Late Fee Waiver—it will be automatically applied to your first overdue loan repayment.
Q: If I have already enjoyed the Late Fee Waiver once, can I enjoy it again in the event of future overdue loan repayments?
A: The Late Fee Waiver applies only to your first overdue loan repayment. Regular late fees will apply to any future overdue payments.
Q: How do I claim under the Group Credit Protection Insurance?
A: If a covered unforeseen event occurs, you or your beneficiaries can file a claim under the Group Credit Protection Insurance. Beneficiaries must present a copy of the policy and supporting documents to an agent for verification and claims processing.
For submission of personal accident claims under Loan Protection, please contact:
SeaMoney Debt Collection
Email: collectionsrecovery.ph@seamoney.com
For details of your coverage under the programme, please log on to your account at https://www.seainsure.com.ph/ to access the Confirmation of Benefits.
Q: Who are my beneficiaries?
A: Your beneficiaries are your surviving immediate family members in the following order of preference:
a) legal spouse
b) children
c) parents
d) brothers and sisters (or, if none, your beneficiaries by law or your estate)
