Why should you take this plan?


For Master policyholders:

  • Protects you against your customer's loan liabilities
  • Excellent tool for attracting and retaining loyal customers
  • Fast track processing with simple documentation


For Members:

  • Protection for your loved ones against your loan liabilities at a nominal cost


How will this Plan fulfill your requirements?

  • Assured Protection equal to the outstanding loan amount as per the benefit schedule
  • Single premium payment with the option to include it as part of the EMI
  • Cover for terminal illnesses
  • Cover continuation option even after full repayment of loan


  Minimum Maximum
Member's Age at Entry (last birthday) Plan A: 

14 years for
education loan

18 years for  other

Plan B:
18 years for all loans

65 years

Coverage Expiry Age (last birthday)

70 years

Policy Term

2 years

Home Loan - 30 years

Education / Loans against property, Business Loans, Commercial Vehicle Loans - 15 years

Car/Two Wheeler/ Three Wheeler/ Personal/Consumer Durable/Tractor/Farm Equipment - 10 years; Policy Term can be chosen in multiples of 1 year

Premium Payment Term

Single Premium

Sum Assured


Plan A: Base Life Cover - No limit subject to underwriting

Plan B: Enhanced Life Cover - 2 crores per Member

Group Size

50 members

No limit


  • Assured Protection equal to the outstanding loan amount as per the benefit schedule at attractive rates.
  • Flexibility to choose from two plan options:
    • Plan A : Base Life Cover: Reducing sum assured
    • Plan B : Enhanced Life Cover: Reducing sum assured with in-built additional benefits for home and education loans borrowers
  • Comprehensive coverage assuring Accidental Total and Permanent Disability Benefit and Terminal Illness Benefit
  • Pay only once and stay protected for the entire term
  • Avail high coverage without medicals up to the Non Underwriting Limit
  • Procedures are hassle free and are not cumbersome in nature
  • Existing borrowers of the financial institution can also be covered for the outstanding loan period subject to underwriting norms
  • In case of joint borrowers or co-borrowers, the borrowers are insured on Joint Life First Death basis or Loan Share Percentage basis
  • During the moratorium period, the cover will be equal to the chosen sum assured
  • In case of prepayment/foreclosure of the loan by the member, the member may request for the surrender of the insurance cover and the surrender value shall be paid in accordance with the terms and conditions of the Policy
  • Tax benefits available as per current tax laws