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Product Information
Group Plans Future Generali Loan Suraksha
Synopsis:
fjrigjwwe9r3SDPrivInsuProd:Synopsis
The plan aims to provide a life cover to all borrowers which in turn secures the credit/loan.

Benefits:

fjrigjwwe9r3SDPrivInsuProd:Benefits
Single Life: - Outstanding loan amount as per the Loan Schedule.
Co-borrower / Joint Life Cases

 

Covered for respective share of loan

Covered for 100% of loan amount on first death basis

Amount payable on death of the member

In case of death of any one of the co-borrowers, his/her respective loan share as per the loan schedule is payable, subject to terms and conditions of the master policy.

In case of death of any one the joint borrowers, where both the borrowers are insured on the entire loan amount, the outstanding loan amount as per the loan schedule is payable, subject to terms and conditions of the master policy.

Life cover for surviving member

The insurance cover on the life of the surviving member will continue for his/her respective loan share for the balance repayment term.

Insurance cover will cease to exist on the life of the surviving borrower.



If Master Policyholder is a

To whom the Death Benefit is payable

1.Reserve Bank of India (RBI) Regulated Scheduled Banks (including Cooperative Banks)
2. NBFCs having Certificate of Registration from RBI
3. National Housing Bank (NHB) Regulated Housing Finance Companies

Subject to terms and conditions of the master policy, the Death Benefit will be directly payable to the Master Policyholder to the extent of outstanding loan amount; Death Benefit amount in excess of outstanding loan amount (if any), will be paid to the nominee/ appointee / legal heir of the Insured Member.

Other Master Policyholders

Subject to terms and conditions of the master policy, the Death benefit will be paid to the nominee/ appointee / legal heir or estate of the Insured Member

Eligibility:
fjrigjwwe9r3SDPrivInsuProd:Eligibility

Entry age

18 – 65 years

Maximum Maturity Age

70 years

Sum Assured Range

 20,000 to no maximum limit (subject to underwriting considerations)

Policy Term Range

Corresponds to loan term between 2 to 30 years

Premium Payment Term

Single Premium only

Minimum Group Size

50 members

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Head Office:
Chiranjiv' 1107 Shukrawar Peth,
Sathe Colony, Near Subash nagar.
Pune 411002

+91 9850646466


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