Premium Models
Credit life is sold as one policy covering many borrowers, not one per borrower, so it has no quote-and-issue flow — rates are the insurer's. It has the same payment split as every other product, though: prepaid corresponds to issuing and paying in one call, remittance to issuing on your account's own settlement terms.
Which model applies follows the payment method the insurer assigned your account. If you have been given a credit line you are billed and remit; if you have not, cover is bought up front.
Set it once and every Try it out below is authenticated. It stays in this browser's local storage and is never sent anywhere but the API.
| Model | Applies when | When cover starts | How the premium is settled |
|---|---|---|---|
| Remittance | The insurer has extended you credit | As soon as the batch is approved, while the premium is still owed | You collect from borrowers and remit to the insurer, in full or in instalments |
| Prepaid | You have no credit line | Only once the premium is confirmed | The batch stays pending and cover incepts automatically when the payment confirms |
This is settled when the policy is opened and does not change for that policy afterwards. Ask your Inshuwa account manager if you are unsure which applies to you.
Either way the batch reports outstandingPremium until it is settled.
Cover starts before the premium is paid
On a remittance policy the borrowers are on risk the moment the batch is approved. A Pending payment does not change that.
Paying a batch's premium
To pay for a batch you did not pay for when you submitted it:
/credit-life/schedules/{scheduleId}/payPlayground
Authorization
Variables
Body
method is MobileMoney or Card. There is no gateway to choose — the one that serves your account is applied for you. The full outstanding balance is collected; part payments are not accepted.
Paying through the gateway never completes inside the request: mobile money settles by callback after the payer approves on their handset, so the payment comes back Pending. Poll for the outcome:
/payments/transactions/{reference}/statusPlayground
Authorization
Variables
Only one collection can be in flight per batch at a time.
Next: Adding borrowers.