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Minimum entry age
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For Education Loans : 15 Years
For other than education loans : 18 Years
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Maximum entry age
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74 years age last birthday
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Maximum cover cessation age
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76 years age last birthday
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Type of Cover
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Level Cover / Reducing Cover
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Minimum Sum Assured
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Housing Loans and Loans Against Property: ₹ 50,000 per member
Other Loans*: ₹ 5,000 per member
The Sum Assured on Death at inception cannot be lower than the loan amount sanctioned
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Minimum Premium
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₹1,000 per group
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Premium Paying Term
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Single
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Minimum / Maximum Cover Term
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2 - 30 Years
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Moratorium Period
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1 - 7 Years
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Lives Covered
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Single Life / Joint Life / Proportionate**
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Cover for co-borrowers
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Available (maximum number of co-borrowers allowed would be subject to underwriting decision)
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Riders
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Not Available
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Maturity/Survival Benefit
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Not Available
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* Other loans include Education Loans, Car Loans, Commercial Vehicle Loans, Commercial Equipment Loans, Business Instalment Loans, Auto/Other Vehicle Loans, Business Loans, Business Overdraft, Business Cash Credit Loans, Personal Overdraft, Cash Credit Loans, Credit Card Loans and Gold Loans
**Proportionate Cover is applicable only if the number of insured members is 2 or more
