Loan Secure Insurance Policy

Universal Sompo's Loan Secure Insurance Policy is a unique Policy that helps you transfer the burden of your loan in the event of an unforeseen contingency. This Policy is specially designed for customers of banks and financial Institutions. This Insurance Policy serves as safety net so that you and your near and dear ones are not worried about repayment of your loan in the event of your unfortunate diagnose of listed Major Medical Illnesses or undergoing of Surgical Procedures or witness Accidental Death, or Permanent Total Disablement on account of Accident resulting in inability to remain gainfully employed. This Policy also provides for Loss of Job and Cover of Dwelling and Content against Fire and Allied Perils.

Who can take this policy?
Principal Loan Borrowers and Co Applicants (The apportionment of Sum Insured shall be on equal basis amongst all insured persons) from age 20 yrs to 65 yrs. e.g. Personal Loan holders, students holding education loan etc.

What Are The Sum Insured Options?
Sum insured option available ranging from minimum Rs 50000 to max Rs 3 Crores

What Is Renewal Age?
All the covers opted for shall be renewed till the loan tenure or lifetime of insured whichever is earlier, except on grounds of fraud, moral hazard or misrepresentation or non cooperation by any Insured Persons

Policy Tenure
The Policy can be taken for 1 year/ 2 Years/ 3 Years.

What is covered under the policy?
Policy is offered with following coverages with various options varying in terms of extent of coverage available as under:-

SECTION I - Major Medical Illnesses & Surgical Procedures (Mandatory Section)
SECTION II - Personal Accident (Optional Cover)
SECTION III Loss of Job (Optional cover, only for salaried insured)
SECTION IV Fire and Allied Perils Dwelling and Household Contents (Optional cover)