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Bancassurance

Credit Libanais, in collaboration with Credit Libanais d'Assurances et de Reassurances (CLA), offers an appealing range of low cost Bancassurance products coupled with an easy payment system. And best of all, these products are available at all Credit Libanais branches throughout Lebanon.

Bancassurance products provide protection and saving plans that cater to our customers’ every need:

  • Retirement Savings Plan
  • Education Savings Plan
  • Housing Savings Plan
  • Term Life Insurance
  • Personal Accident

Bancassurance

Savings

Retirement Savings Plan

Education Savings Plan

Housing Savings Plan

Risk

Personal Accident

Term Life Insurance


SAFEFUTURE RETIREMENT PLAN
Plan a Safer Tomorrow

With SAFEFUTURE, you can now secure your retirement by building up cash value while receiving life insurance coverage to protect your loved ones from any unforeseen events.
Remember that the earlier you plan your savings, the better and bigger the returns.

Why Choose SAFEFUTURE Retirement Saving and Insurance Plan?

  • To secure your retirement needs or achieve a project
  • To protect your family from life’s hazards.

Coverage

  • In the event of natural or accidental death or total and permanent disability before contract maturity, the beneficiary always receives the greater amount:
       - If the insured amount is greater than the cash value, it will be paid to the designated beneficiary (ies).
       - If the cash value is greater than the insured amount, it will be paid to the designated beneficiary (ies).
  • In the event of total and permanent disability before contract maturity, the greater amount will be paid to the insured.

Premiums:

  • Currency: USD
  • Monthly, quarterly, half-yearly or yearly premiums automatically deducted from your account.
  • Possibility to make 3 irregular ad-hoc payments (minimum 100 USD)
  • 3% or 5% premium indexation to protect your savings from the yearly inflation rate.
  • Minimum premium: 20 USD exclusive of the one-time policy fee (USD 20) added to the first payment.

Benefits

  • High return on the cash value defined on a yearly basis.
  • Possibility to receive the cash value at maturity either as a lump sum or as an annuity over 5 years.
  • Possibility to withdraw the money at any time. Penalty for the first three years, 60%, 40% and 20%. Free withdrawal as of the 4th year in addition to the 25 USD cancelation fees.
  • Possibility to make technical modifications (10 USD fee), such as increasing the premium, the insured amount and non-technical modifications (5 USD fee) such as changing the beneficiary (ies).
  • Possibility to monitor your savings at any moment.

Eligibility

  • You should be between 18 and 60 years old.
  • Cover ceases at age of 65, e.g. for a 60 year old, the maximum cover term is 5 years. You can opt for a longer maturity until the age of 75.

Age of insured

Contract
Duration (Years)

Monthly Premium 

 (USD)

Insured Amount (USD)

Saved amount with 3% yearly increase of premium (USD)

  Saved amount without yearly increase of premium (USD) 

Total paid premiums

(USD)

With return on savings projected at 4.5% yearly

With return on savings projected at 6.5% yearly

Total paid premiums

(USD)

With return on savings projected at 4.5% yearly

With return on savings projected at 6.5% yearly

30

35

50

15,000

36,278

70,243

102,204

21,000

44,516

68,471

40

25

50

15,000

21,876

33,485

43,428

15,000

23,518

31,502

50

15

50

15,000

11,160

12,480

14,623

9,000

9,812

11,665


* This is just an illustration. The rates are shown for projection purposes only and do not constitute any engagement from our part.
These amounts are calculated before deducting the management fees on invested premiums.
Conditions apply as at 01/11/2019 and are subject to variation.

 

SAFESTEPS EDUCATION PLAN
A wise choice for a bright future

With SAFESTEPS, you are one step closer to giving your children the future they deserve, by saving up for their university tuitions while enjoying insurance coverage to protect them against unforeseen events.

Why Choose SAFESTEPS Education Saving and Insurance Plan?

  • To fund your child’s university education.

Coverage

  • In the event of natural or accidental death or total and permanent disability before contract maturity:
       - Waiver of premium: the company ensures the continuity of the plan until contract maturity.
       - Optional Cover: Schooling: the company ensures the payment of an annual tuition fee equal to 1000 USD per unit sold, quarterly until policy maturity.

Premiums:

  • Currency: USD
  • Monthly, quarterly, half-yearly or yearly premiums automatically deducted from your account.
  • Possibility to make 3 irregular ad-hoc payments (minimum 100 USD)
  • 3% or 5% premium indexation to protect your savings from the yearly inflation rate.
  • Minimum premium: 20 USD exclusive of the one-time policy fee (USD 20) added to the first payment.

Benefits:

  • High return on the cash value defined on a yearly basis.
  • Possibility to receive the cash value at maturity either as a lump sum.
  • Possibility to withdraw the money at any time. Penalty for the first three years, 60%, 40% and 20%. Free withdrawal as of the 4th year in addition to the 25 USD cancelation fees.
  • Possibility to make technical modifications (10 USD fee), such as increasing the premium and non-technical modifications (5 USD fee) such as changing the address.

Eligibility:

  • You should be between 18 and 50 years old.
  • Period of scheme: minimum 4 years, maximum 18 years. Cover ceases when the child reaches 18 years old.

Example*
1-  30-year-old Jihad wishes to pass on his business, one day, to his 3-year-old son, Omar. By subscribing to the Educational Plan, he will be able to save at least three years of his son’s university tuition fees. If Jihad decides, for example, to pay USD 114 monthly, the following simulation would apply, by the time his son reaches the age of majority.

Age of insured

Age of the Beneficiary

 Child

Monthly Premium

(USD)

Duration of the Contract

(Years)

Total paid Premiums (USD)

Saved Amount on maturity without Yearly Increase of Premium  (USD)

With return on savings projected at 4.5% yearly

With return on savings projected at 6.5% yearly

30

3

114

15

20,520

26,450

31,100

2-  If jihad decided to pay USD 85 monthly, the following simulation would apply by the time his son reaches the age of majority. 

Age of insured

Age of the Beneficiary Child

Monthly Premium (USD)

Duration of the Contract

(Years)

Total paid Premiums

 (USD)

Saved Amount on maturity without Yearly Increase of Premium (USD)

With return on savings projected at 4.5% yearly

With return on savings projected at 6.5% yearly

30

3

85

15

15,300

19,500

22,950

-schooling amounts are not included in the above illustration.
*This is just an illustration. The rates are shown for projection purposes only and do not constitute any engagement from our part.
These amounts are calculated before deducting the management fees on invested premiums.
Conditions apply as at 01/11/2019 and are subject to variation.


SAFEHOME
Save For Their Future Home

A house is what you can offer your children, today!

With SAFEHOME, the home savings plan, Crédit Libanais d'Assurances et de Réassurances gives you the opportunity to save up for a down payment on your children’s dream house, while benefiting from a life insurance policy, and to top it all, a preferential rate on their future housing loan!

Why Choose SAFEHOME Housing Savings Plan?

  • To save up for a down payment on a house for your children.
  • To guarantee your children a preferential rate* on the housing loan in USD once they purchase their designated house*.

Coverage
In the event of natural or accidental death or Total Permanent Disability before contract maturity:
   - Waiver of premium: the company ensures the continuity of the plan until contract maturity.

Premiums:

  • Currency: USD
  • Monthly, quarterly, half-yearly or yearly premiums automatically deducted from your account.
  • Possibility to make 3 irregular ad-hoc payments (minimum 100 USD)
  • 3% or 5% premium indexation to protect your savings from the yearly inflation rate.
  • Minimum premium: 50 USD exclusive of the one-time policy fee (USD 20) added to the first payment.

Benefits:

  • High return on the cash value defined on a yearly basis.
  • A 0.25% discount* on the applicable interest rate of the housing loan subsidized by the BDL, and of the CLIB Housing Loan.
  • Possibility to receive the cash value at maturity either as a lump sum.
  • Possibility to withdraw the money at any time. Penalty for the first three years, 60%, 40% and 20%. Free withdrawal as of the 4th year in addition to the 25 USD cancelation fees.
  • Possibility to make technical modifications (10 USD fee), such as increasing the premium and non-technical modifications (5 USD fee) such as changing the address.

Eligibility:

  • You should be between 18 and 50 years old.
  • Period of scheme: minimum 5 years, maximum 35 years. Cover ceases when the beneficiary reaches 35 years old or the insured 65 years old.

Example**
35-year-old Rami wishes to offer his son the most valuable gift, a down payment for his future house. By subscribing to SAFEHOME, he will give his son the opportunity to purchase his dream house.

Age of the insured (years)

Monthly premium (USD)

Contract duration (years)

Saved Amount on Maturity without yearly increase of Premium(USD)

Return on investment

Projected at 4.5% Yearly

Return on investment

Projected at

6.5% Yearly

35

75 

25

36,050

48,150

*Upon loan approval subject to the eligibility criteria.
**This is just an illustration. The rates are shown for projection purposes only and do not constitute any engagement from our part. These amounts are calculated before deducting the fund management fees on invested premiums.
Conditions apply as at 01/11/2019 and are subject to variation.


SAFEMIND Personal Accident Plan
Prevent the Unpredictable

In a world of uncertainty, how can you protect your family from life’s hazards and the ensuing financial consequences?

Credit Libanais d’Assurances et de Réassurances offers you SAFEMIND, a personal Accident Insurance plan which provides you with a round-the-clock worldwide coverage and financial compensation to protect your family and yourself against unforeseen events.

Why Choose SAFEMIND Personal Accident Plan?

  • To enjoy a worldwide round-the-clock coverage against unforeseen accidents.
  • To protect your family in the event of accidental death.

Coverage:

  • In the event of death or Total Permanent Disability solely caused by accidents, Credit Libanais d’Assurances et de Réassurances will pay to the designated beneficiary (ies) the insured capital:

Cover

Insured Sum

Basic

10,000 USD or C/V in LBP

Medium

20,000 USD or C/V in LBP

Comfort

30,000 USD or C/V in LBP

  • In the event of death or Total Permanent Disability following a car accident (whether you were the driver, passenger or pedestrian), the indemnity amount is doubled.

Cover

Insured Sum

Basic

20,000 USD or C/V in LBP

Medium

40,000 USD or C/V in LBP

Comfort

60,000 USD or C/V in LBP

Premiums:

  • Currency: USD
  • Monthly, quarterly, half-yearly or yearly premiums automatically deducted from your account.
  • Possibility to make 3 irregular ad-hoc payments (minimum 100 USD)
  • 3% or 5% premium indexation to protect your savings from the yearly inflation rate.
  • Minimum premium: 50 USD exclusive of the one-time policy fee (USD 20) added to the first payment.

Benefits:

  • A flexible plan that allows you to make technical amendments (5 USD fee) by changing the premium insured capital and/or beneficiary (ies).
  • No medical questionnaire to be filled upon subscription.
  • Contract immediately issued and automatically renewable unless decided otherwise by the client. Cover starts 7 days after subscription.

Eligibility:
Age between 18 and 64 years. Cover ceases at age of 65, or in case of non-settlement of the premiums.

Conditions apply as at 01/11/2019 and are subject to variation.

 

LIFEX5 Term Life Insurance
Protect your loved ones!

Financial safety is the greatest gift one can ever receive.
LIFEX5 Term Life Insurance plan from Crédit Libanais d’Assurances et de Réassurances sal gives you the opportunity to take care of your loved ones’ future and financial security.
In case of sudden death or total and permanent disability, your loved ones will still maintain decent living standards, continue to cover their expenses, and enjoy the comfort they deserve!

Why Choose LIFEX5 Term Life Insurance?

  • To leave your family enough money to pay off their debts and cover their expenses
  • To help your loved ones replace lost income

Coverage:
In the event of death or total and permanent disability (TPD), Crédit Libanais d’Assurances et de Réassurances sal (CLA) will pay the insured sum to the designated beneficiary (ies).

Premiums:

  • Currency: USD
  • Monthly or yearly premiums automatically deducted from your account.
  • Minimum premium: 5 USD or C/V in LBP (monthly) or 60 USD or C/V in LBP (yearly).

Features:

  • The minimum duration of the scheme is 5 years automatically renewable without any additional medical requirements until you reach the age of 65
  • Minimum insured sum: 10 000 USD or C/V in LBP
  • Maximum insured sum: determined by the insured.
  • Predetermined premium amount changes at every five years according to your attained age
  • A flexible plan that allows you to make technical modifications (12 USD fee or C/V in LBP) such as the sum insured or payment frequency and non-technical modifications (5 USD fee or C/V in LBP) such as changing the beneficiary (ies)
  • You may stop the automatic renewal of the contract or cancel it at any anniversary date

Eligibility:

  • Age between 18 and 60 years. Coverage ceases when you reach age 65

Example

 

Insured Amount USD 25,000

Insured Amount USD 50,000

Insured Amount USD 75,000

Insured Amount USD 100,000

Age

Monthly payment in USD

25

5

9

13

18

30

5

9

13

18

35

5

10

14

19

40

7

14

21

28

45

12

23

34

46

50

20

39

58

77

This is an illustration and does not constitute any engagement from our part.
Conditions apply as at 01/11/2019 and are subject to variation.

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