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Product Information
Group Plans Group Loan Protect
Synopsis:
fjrigjwwe9r3SDPrivInsuProd:Synopsis
This offers you the opportunity to cover a host of life’s uncertainties – Death, Terminal Illness, Total Permanent Disability and Critical Illness. Should any of these eventualities befall your customer, we will make good their loan outstanding thereby protecting both - their dreams and your business. This ensures that your customer’s investment is passed on to their family and not the burden of the loan.

Features:

fjrigjwwe9r3SDPrivInsuProd:Features
  • A comprehensive benefit plan which offers financial protection in the event of Death, Terminal Illness, Total Permanent Disability and Critical Illness)
  • Flexibility to choose comprehensive coverage from 9 different plan options
  • Choose between Level or Reducing cover
  • Choice of Single Life and Joint Life coverage
  • Flexibility to cover co-borrower for entire Loan Amount or on Loan Share basis
  • Moratorium period of 3, 5 and 7 years with or without interest payment
  • Flexible Policy Term from 2 to 35 years
  • Convenient premium payment option - Single Pay/ 5 years Pay
  • Lower premium rates for female lives
  • Tax benefits available as per current tax laws
Eligibility:
fjrigjwwe9r3SDPrivInsuProd:Eligibility

Plan Parameters

Minimum

Maximum

Age at Entry (years)

14 (for benefit options 1, 4 & 5) 18 (for benefit options 2, 3, 6, 7, 8, 9)

65

Age at Maturity (years)

16 (for benefit options 1, 4 & 5) 20 (for benefit options 2, 3, 6, 7, 8, 9)

75

Premium Payment Term (years)

Single Pay

Limited pay 5 years

Regular pay 5 years

Policy Term (years)

2 to 35 years

6 to 35 years

5 years