Reducing Cover definition
Reducing Cover means the progressively
Reducing Cover means the progressively reducing Sum Assured over the Coverage Term, in alignment with the outstanding balance of the insured loan or credit facility, as set out in the Certificate of Insurance
Reducing Cover. / “Outstanding Loan Cover” means the sum assured decreases as per the loan repayment schedule at the time of inception of the policy as stated in the certificate of insurance. This can be reduced monthly or annually.