Group Plans
Max Life Group Credit Life Secure Plan
Synopsis:
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A plan that provides cover against loan in the event of borrower's death during the period of coverage.
Features:
fjrigjwwe9r3SDPrivInsuProd:Features
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- Protection from defaults
- Safeguard against NPAs
- Comprehensive coverage
- Protect borrowers against loan liabilities
- Low cost protection
Benefits:
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- Death Benefit-Payable in case of death of the borrower due to any cause (natural or accidental)
- Surrender Benefit -Payable in case member surrenders the risk cover due to foreclosure or prepayment of loan or any other reason
- Co-borrower Cover Option- In the event of the death of the primary borrower/ co-borrower due to suicide, cover on the other life will continue as they are independent insurance covers
Eligibility:
fjrigjwwe9r3SDPrivInsuProd:Eligibility
Minimum age at entry : |
15 years (age as on last birthday) |
Maximum age at entry : |
69 years (age as on last birthday) |
Maximum age at Maturity : |
70 years (age as on last birthday) |
Minimum Policy Term : |
1 year |
Maximum Policy Term : |
Till 70 years (age as on last birthday) subject to maximum of 30 years. |
Minimum group size : |
50 members within a policy year |
Maximum group size : |
No limit, subject to underwriting |
Minimum face amount : |
Rs. 50,000 per member |
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Face Amount (Per Member): |
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Minimum Premium : |
No Limit |
Maximum Premium : |
No limit |