| Who is eligible? | Home Loan borrowers availing Loan from 01/10/2009 onwards. |
| Age Group | 18-60 (Maximum @ exit 65) |
| Coverage | Min Rs.50,000/- Maximum Rs.50.00 lacs.
|
| Waiting Period | First 45 days (except accident) |
| Claim Amount | Loan outstanding as on the preceding anniversary date of entry. |
| By arrangement with | LIC |
| Period of cover | 3-20 years |
| Medical Check Up | Not needed for age up to 45 for loans upto Rs.10 lacs Required for
i) loan exceeding Rs. 5 lacs for the age group 46-50.
ii) for all loans above Rs.10 lacs and for all borrowers aged above 50 medical check up & report required.
Fees to be borne by borrower.
|
| Foreclosure | Cover ceases from the date of foreclosure. Applicable premium refunded for unexpired term. Claim to be sent thru Branch. |
| Commencement of risk cover | i) For non medical cases, from the date of recovery of premium.
ii) For medical cases premium should be remitted only after submitting Medical Reports and after taking approval of LIC; cover commences from date of receipt of premium by LIC. |
| Joint Borrower | Only earning members |
| More Details (Download) | Pamphlet >> |
