Insurance, banks join forces

Cambodia Life Insurance Company Plc plans to bundle services with banks to offer guarantees on mortgages, company representatives said. The service is hoped to make mortgages more accessible in a country where housing loans are still considered risky business. Collateral is usually required to take loans in Cambodia. … The service would bundle life insurance payments and overdue mortgage payments into a single premium, and potentially lower the risk of default. The insurance firm, Cambodia’s first to offer comprehensive life insurance coverage, was in discussion with 20 commercial banks on developing the product. …

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