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Credit Life Insurance

With our unique Credit Life Insurance Benefit Plan, any outstanding financial obligation you may have with us will be written-off in the unfortunate event of death.

A life insurance scheme is mandatory for all customers aged between 18 and 70 (excluding company accounts) with an outstanding Mortgage Loan, Personal Loan, Overdraft, or Credit Cards.

Features

The maximum amount (Cap) for the life insurance coverage for each customer having a credit facility included in the coverage is as follows:

  • Coverage amount up to QR 1,500,000 for Personal Loan, Time Loans, Overdrafts and Credit Cards
  • Coverage amount up to QR 3,000,000 for Mortgage loans - maximum sum insured per borrower will not exceed QR 3,000,000 (combined)
  • No application required

Eligibility to apply

  • Salary account with the Bank
  • Existing facility, loan or credit card with QNB
  • Applicant must be 18 to 65 years
  
 No recourse to any credit balance or collateral held by QNB.
 No transfer of debt obligation to account holder's next-of-kin or guarantors.
 
*Terms and Conditions apply
 

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