Surakshit Loan Bima

When people need more money for any kind of investment, they borrow from Banks. No matter how big or small the loan may be, the worry of paying it off always remains on top of the mind. However, due to tragedies like loss of job or accidental deaths, this burden often gets passed on to their families.

Surakshit Loan Bima is a policy designed for the loan borrowers of banks and financial institutions. This Insurance Policy provides a comprehensive protection and is specifically designed to guard you and your family against the trauma you face for repayment of your loan in the event of unfortunate incidences which includes:

1.Maximum 18 listed Critical Illnesses 2.Personal Accident Insurance - Accidental Death or Permanent Total Disablement 3.Job Loss Insurance
Eligibility
Entry Age
18 years to 65 years with renewability up to 70 years of age

Sum Insured
10,000 to 3,00,00,000

Pre Acceptance Medical Tests
Above age of 50 years compulsory medical test will be required

What's Covered
Insurance Plans -
This Policy provides You options of 5 (Five) plans namely Plan A, Plan B, Plan C, Plan D, Plan E with and without Loss of Job cover option. The Policy Schedule will specify the Plan which is in force for each of the Insured.


Critical Illness -



Personal Accident Cover Accidental Death and Permanent Total Disability

Loss of Job

Other Features
A discount of 10% will be applicable in case Loss of Job benefit is not opted under this product.


Loading on Claim experience:
There will be no loading on premium for adverse claims experience.

Top reasons why this plan is ideal for you
1 Flexibility:
Very Flexible and you can cover up to a maximum of 4 applicants (1 main applicant and maximum 3 co-applicants).

2 Quick Turnaround Time
Our average turnaround time for claims settlement is within 30 working days (Subject to all required information/ documentation being submitted).

3 Free Look Period
If you are not satisfied with the coverage, and terms and conditions of the policy, you can opt for cancellation of the policy within 15 days from the date of receipt of the policy documents, provided there has been no claim and you shall be entitled to a refund as per the policy terms and conditions.

4 Renewal
The Policy shall be renewable up to age of 70 years. However the insured covered under this product will have an option to migrate to our Future Criticare product to continue the cover for Critical Illness after the age of 70 years. The portability or migration would be as per Standard Terms and Conditions of Future Criticare product.

5 30 Days for Renewal
From the expiry date of the policy, you get 30 days grace period for renewal.

6 Portability
Portability is as per the Portability guidelines

Exclusions applicable to all sections

Exposure to nuclear, radioactive materialsConsumption of alcohol or drug abuseSuicide, attempted suicidePregnancy, Infertility and invitro fertilization

Substance abuse, self-inflicted injuriesAll expenses related to AIDSArising or resulting from the Insured person committing any breach of the lawHazardous sports, war, terrorism, civil war or breach of law
Exclusions specific to Critical Illness cover

Critical Illnesses diagnosed within 90 days of inception of the PolicyAny Insured Event arising on account of or in connection with any Pre-Existing Illness/ Disease

Any external congenital Illness or condition or birth defectsAny medical procedure, which is not medically necessary or not performed by a Medical Practitioner

Exclusions specific to Personal Accident cover
Any pre-existing disability/ accidental injuryWorking in underground mines, tunnelling or explosives, or engaged in Hazardous Activities
Taking part in aerial activities (including cabin crew) except as a fare-paying passenger in a regular scheduled airline or air Charter Company
Exclusions specific to Loss of Job cover

Unemployment arising within the first 90 days of inception of the PolicyTermination, dismissal from employment due to dishonesty, fraud or poor performanceSelf-employed persons

Voluntary unemploymentSuspension from employment on account of any pending enquiry being conducted by the employer/ Public Authority