Credit Policy
Comprehensive Coverage for Financial Protection
Businesses often sell goods or services on credit, exposing them to the risk of customer defaults. Credit Insurance Policy helps companies safeguard their cash flow by covering losses due to non-payment or insolvency of buyers. This protection ensures financial stability and supports business growth by enabling safer credit transactions.
Key Benefits
- Protection Against Non-Payment Covers losses from customer insolvency or delayed payments.
- Improved Cash Flow Ensures steady revenue even if customers default.
- Secure Business Growth Encourages expansion into new markets with confidence.
- Stronger Customer Relationships Enables businesses to extend credit securely.
Health Cover Up
to ₹50 Lacs
What is Credit Policy?
Credit Insurance Policy protects businesses against the risk of customer payment defaults. It ensures companies receive compensation for unpaid invoices due to customer insolvency or prolonged delays, safeguarding cash flow and profitability.
Why do you need Credit Policy?
Minimize Financial Risks
Protect your business from potential losses due to customer defaults.
Foster Business Expansion
Safely extend credit and expand your customer base with confidence.
Ensure Cash Flow Stability
Maintain consistent cash flow even during challenging financial times.
Strengthen Customer Trust
Build long-term relationships by offering credit with confidence and security.
Why choose Insurance Manager to protect your business?
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
What does Credit Policy cover and exclude?
Plan Coverage
Protracted Default
Protects against delayed payments or prolonged non-payment by debtors.
Insolvency Protection
Covers losses if a customer becomes bankrupt or financially unable to pay.
Natural Disaster Coverage
Safeguards businesses against non-payment due to earthquakes, floods, or other disasters.
Import License Cancellation
Provides coverage if an import license is revoked, preventing payment.
Government Actions
Covers losses if the buyer’s country enforces restrictions that block payment.
Political Risks
Protects against losses due to war, civil unrest, riots, or revolutions.
Export Credit Protection
Ensures secure payment protection for international trade transactions.
Contract Breach Coverage
Covers potential financial loss and damages if a buyer fails to honor contract terms.
- In-patient treatment 24 hours a day
- Pre-existing disease
- Pre and Post hospitalization
- Domiciliary hospitalization expenses
- Reimbursement of cost of health check-up
- All day care procedure
- Family floater to covers member’s immediate family such as a spouse, dependent children, dependent parents, etc.
- Maternity benefits
- Dental treatment
- Cost of spectacles, contact lenses
- Waiver of waiting period
- Waiver of first-year exclusions
- Reimbursement of ambulance costs
- Baby day one care
- Vaccination benefits
- Increased room rent limits
- Corporate buffer
- Out-patient treatment (OPD Card)
- Root canal surgery
- In-hospitalization expenses due to sickness or accidents
- Room and boarding expenses as provided by the hospital/nursing home.
- Nursing expenses.
- Surgeon, anesthetist, medical practitioner, consultants or specialist fees.
- Anesthesia, blood, oxygen, operation theatre charges, surgical appliances, medicines and drugs, diagnostic materials and X-Ray, dialysis or chemotherapy.
Major Exclusions
Trade Disputes
Losses arising from conflicts between buyer and seller over contract terms.
Non-Acceptance of Goods
Coverage does not apply if the buyer refuses to accept delivered goods.
Consumer Sales
Excludes sales to individuals purchasing goods or services for personal use.
Sales to Associate Companies
Transactions with affiliated or subsidiary companies are not covered (except for political and AOG risks).
Letter of Credit Transactions
Sales under irrevocable and confirmed Letters of Credit are not covered.
Foreign Currency Fluctuations
Losses due to exchange rate changes are excluded.
Nuclear Risks
Does not cover losses related to nuclear incidents or radiation exposure.
War Between Major Nations
Excludes coverage for wars involving major nations or conflicts between the insured and buyer's countries.
- If the appropriate waiver is not opted for, then the policy will not cover
- Treatment of pre-existing illnesses.
- Any treatment for illnesses/diseases within the first 30 days of the policy, unless it is an accident.
- Treatment of specified illnesses for the first year of the policy.
- Certain diseases like hernia, cataract, piles, sinusitis, etc are excluded during the first year of operation in the cover.
- Any claim arising out of or traceable to pregnancy.
- Ayurvedic, homeopathy, naturopathy or any other form of local medication.
- Alcoholism, drug abuse, and AIDS.
- Dental treatment or surgery unless it requires hospitalization.
- Cost of spectacles.
- Vaccination and inoculation.
- Cosmetic treatment.
Your Journey to Insurance Manager
When can I Claim?
A claim under Credit Policy can be registered in the below circumstances:
- Customer Insolvency : If a buyer declares bankruptcy and cannot pay.
- Prolonged Non-Payment : When a customer fails to pay beyond the agreed credit period.
- Political Risks – Covers losses due to unforeseen government actions or trade restrictions.
Claim what’s yours with Insurance Manager
Have more questions?
Submission
Assessment
