Beneficiaries Clauses
During the implementation of the loan, the lender is usually designated as the beneficiary of the insurance contract. Thus, in case of accident, the insurance company reimburses the lender ( partially or totally) or replaces the insured for the payment of its loan terms in case of temporary total disability
At your request or within specific files, SOCAVIE is able to change the beneficiary clause with a pledge clause or escrow clause in agreement with the lender
Do not hesitate to contact us if you want more information!