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National Toll Free No1800 425 00 000

New IB Jeevan Vidya

New IB Jeevan Vidya

Who is eligible? All educational loan borrowers (Student)
Reimbursement of Expenses – Nepal & Bhutan in INR For treatment while the insured is away at these places either on holiday or business purposes. Cashless facility however is not offered under this extension
Age at Entry 16 – 50years
Maximum age at exit 60 years
Sum Assured Balance outstanding at the time of death or limit sanctioned which ever is less
Coverage Cover upto Rs.15.00lakh (for studies in India)
Cover up to Rs.25.00lakh (for studies abroad)
Premium One time Single Premium – Financed by Bank
Waiting Period First 45days (except death due to accident)
By arrangement with LIC of India
Period of cover Minimum period of 3years and maximum of 12years (course period + repayment holiday + repayment period subject to maximum of 12 years)
Cover ceases at the age of 60years or on full adjustment of loan whichever is earlier
Medical Check Up Required in the following cases :-
1. Loan exceeding Rs.5.00lakhs for the age group of 46 & above.
2. Loan exceeding Rs.10.00lakhs for the age group of 36 & above.
3. Loan exceeding Rs.15.00lakhs for the age group of 35 above.
Tax Benefit Income tax rebate u/s 80C for the premium paid.