Brazil’s C6 Bank Introduces Financial Protection Insurance for Vehicle Financing

Just over a year after the start of the vehicle financing operation, C6 Bank launches the C6 Auto Financial Protection Insurance.

Offered in partnership with Fairfax Seguros (FF Seguros) and also known as credit life, the product “guarantees that the financing assumed by the vehicle buyer is honored in the event of disability, death and loss of income.”

Fabio Basilone, head of insurance at C6 Bank, said:

“We developed a product with competitive rates and coverage so that the holder and his family can plan in case of unforeseen circumstances that interfere with the payment of installments.”

The C6 Auto Financial Protection Insurance “is optional and can be contracted at the time of vehicle financing.” The insurance “provides coverage for the death and disability of the contractor and also for loss of income due to involuntary unemployment.” The contractual conditions and details of the offer are “presented to the consumer at the time of the proposal.”

All persons aged between 18 and 80 years “who have a vehicle financing proposal approved at C6 Bank are eligible for the product, even if they are not account holders of the bank.” The formalization of the policy “is digital and can be done directly at the stores, with one of the C6 Auto partners that operate in all regions of the country.”

The insurance has “the same duration as the financing and the payment is made together with the installments.” If there is an early settlement or cancellation of the financing, the C6 Auto Financial Protection Insurance is “canceled on the same date.”

Both the holder and family members “can trigger the insurance if any of the unforeseen events covered in the proposal occur.”

In another recent update, it was noted that C6 Bank MEI customers now “have a new way to receive payments.”

It is the payment link, “a tool that enables online and distance sales for the main card brands, offering practicality and security through an anti-fraud system.”

The payment link “allows you to carry out credit, debit and PIX card transactions without the need for physical contact or redirection to a billing submission site.”

The link can be “sent to the payer via email, social media, SMS, WhatsApp messages or other chat apps.”

For more details, check here.

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