Finaref provides leasing insurance
Last spring, Finaref began offering payment protection insurance to customers of Crédit Agricole Leasing. The insurance covers death, illness and complete or partial disability of the borrower. Pricing is straightforward and financially attractive and is based on the customer’s age (under 41 / 41 to 65) but not on the size of the financing package, which may go up to €2 million. Naturally, this insurance is optional. Depending on the age of the borrower and the amount of financing, eligibility is determined by a series of medical formalities, which can range from a certificate of good health in the case of small financing arrangements to a health questionnaire or more in-depth medical formalities. Since the end of 2004, Crédit Agricole Leasing and its specialised subsidiaries, which include Lixxbail, Finamur, Agilor and Ucalease, have handled all the lease finance activities of the Crédit Agricole Group, from property and equipment leasing to long-term rentals, information systems leasing and financing for public and energy-related projects. Number-one on the property leasing market and number-two for equipment leasing, Crédit Agricole Leasing has more than 100,000 customers, manages 220,000 contracts, reports around €12 billion in outstandings and employs a staff of over 1,000. Crédit Agricole Leasing’s financing solutions allow businesses, professionals, farmers and public authorities to access a complete range of assets while restricting capital consumption and freeing up cash.Double up your coverage
Holders of Mistral and Challenger revolving credit accounts can now take out payment protection insurance for co-borrowers, a service that Finaref already offers on Espace repayment loans. Beginning 15 January 2007, customers will be able to take out payment protection insurance for co-borrowers when they open a credit account. And from mid-March onwards, it will be possible to take out this kind of insurance for existing loans. For single borrowers, this type of insurance is fixed at 0.60 per cent of the credit extended, while cover for two parties will be set at just 0.95 per cent.
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