Credit Life Insurance
Make sure your loan never becomes your family’s burden. Credit life insurance pays off the outstanding balance of your personal or housing loan if you pass away or become permanently disabled.
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- Leading insurers compared
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Get your credit life insurance quote
Tell us about your loan and one of our advisors will come back with options from leading insurers.
- Cover that matches your loan
- Accepted by banks in Oman
- Help with the claim for your family
or call +968 7250 0052
Insurance products are offered by Trade Links Insurance Services SPC (Licence no. 47/B) in partnership with leading insurers.
Compare plans from leading credit life insurers
- Al Madina Insurance Company
- Arabia Falcon Insurance
- Dhofar Insurance Company
- Liva Insurance
- Oman Qatar Insurance Company
- Oman United Insurance Company
- Takaful Oman
What is Credit Life Insurance?
Credit life insurance is linked to a loan. If you pass away, or in many plans become permanently disabled, the insurer pays the outstanding loan balance directly to the bank, so your family does not inherit the debt.
Banks in Oman usually ask for this cover when you take a personal loan, car loan or home loan. You can often arrange it through a broker instead of the bank, and compare cover and price before you sign. We help you find a plan your bank will accept.
Who it’s for
- People taking a personal or car loan
- Home buyers with a housing loan
- Borrowers refinancing or moving a loan to another bank
- Families who want to protect their home
Why choose Credit Life Insurance with Trade Links
We find cover your bank accepts, at a price that makes sense for your loan.
Get your Credit Life quoteMatches your loan
Cover follows your loan amount and term, so the balance is always protected.
Personal and housing loans
Plans for personal, car and home loans with banks in Oman.
Accepted by your bank
We arrange the policy and assignment documents your bank needs.
Compare before you sign
See prices from several insurers instead of taking the first offer.
Takaful options
Sharia-compliant plans for Islamic financing.
Help when it matters
We support your family with the claim and the bank.
What’s covered
Typical features. Exact cover, limits and exclusions depend on the insurer and the plan you choose.
Usually covered
- Outstanding loan balance if the borrower passes away
- Permanent total disability, where included in the plan
- Personal loans, car loans and housing loans
- Joint borrowers, where the policy allows
- Cover that reduces as the loan is repaid
Usually not covered
- Pre-existing conditions not declared on the application
- Suicide within the waiting period set by the policy
- Missed or late instalments before the claim
- Loan amounts above the insured sum
- Death or disability from excluded hazardous activities
Frequently asked questions
Is credit life insurance compulsory in Oman?
It is not a general legal requirement, but most banks in Oman ask for it as a condition of a personal or housing loan.
Ask an advisorDo I have to buy it from my bank?
Not always. Many banks accept a policy arranged through a licensed broker, as long as it meets their terms. We can check with your bank.
Ask an advisorWhat happens to the cover when I repay my loan?
The cover usually reduces as your loan balance goes down, and ends when the loan is fully repaid.
Ask an advisorWhat does my family need to do if I pass away?
They inform the bank and the insurer, and provide the documents requested. We will guide them through each step.
Ask an advisorCan I cover a joint loan?
Many insurers offer cover for joint borrowers. Tell us about your loan and we will check the options.
Ask an advisor